The number of U.S. properties considered "equity rich" has increased by nearly 1.4 million units from a year ago, according to the First Quarter 2017 U.S. Home Equity & Underwater Report produced by ATTOM Data Solutions. Now, more than 13.7 million homes—or about a quarter of all U.S. residential properties—fall within that category, which means the combined loan amount secured by the property is 50 percent or less than its estimated market price.
The report notes the following states had the highest share of equity-rich properties in the first quarter:
- Hawaii: 38.4%
- California: 35.8%
- New York: 34.6%
- Vermont: 32.8%
- Oregon: 31.3%
On a city level, the metros with populations of at least 500,000 that posted the highest share of equity-rich properties are:
- San Jose, Calif.: 51.3%
- San Francisco.: 46.6%
- Honolulu: 39.9%
- Los Angeles: 39.1%
- Pittsburgh: 34.2%
- San Diego: 33.6%
- Portland, Ore.: 33.6%
- Austin, Texas: 32.1%
- Seattle: 32.1%
- New York: 32%
Source: RealtyTrac
