BiggerPockets Daily America’s Housing Divide: Equity Rich Owners vs. Struggling Buyers
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Jul 14, 2025 The housing market reveals a stark divide: nearly half of mortgaged homeowners are now equity rich, especially in the Northeast. In contrast, affordability has plummeted, with 99% of U.S. counties now considered less affordable than usual. This growing chasm raises serious implications for investors, buyers, and renters. The discussion dives into the states thriving in equity and the dire situations for struggling buyers, painting a complex picture of today's real estate landscape.
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Half of Mortgaged Owners Are Equity Rich
- Nearly half of all U.S. mortgaged homeowners are equity rich, owing less than half their home's value.
- This is largely due to home price appreciation from the 2020-2022 pandemic boom period.
Northeast Sees Strong Equity Gains
- The Northeast leads in high equity rates due to limited inventory and rising prices.
- States like Vermont and New York saw major gains in equity-rich mortgages year over year.
Sun Belt Equity Levels Declining
- Sun Belt states like Florida, Utah, and Arizona saw declines in equity-rich homeowners.
- These markets are facing affordability pressures despite historically high equity in some properties.