In a press release issued today announcing the release of their third-quarter 2019 U.S. Home Equity & Underwater Report, ATTOM Data Solutions, curator of the nation’s premier property database, reported that 14.4 million residential properties in the United States were considered equity rich, meaning that the combined estimated amount of loans secured by those properties was 50 percent or less of their estimated market value.

The count of equity rich properties in the third quarter of 2019 represented 26.7 percent, or about one in four, of the 54 million mortgaged homes in the U.S.

The report also shows that just 3.5 million, or one in 15, mortgaged homes in the third quarter of 2019 were considered seriously underwater, with a combined estimated balance of loans secured by the property at least 25 percent more than the property’s estimated market value. That figure represented 6.5 percent of all U.S. properties with a mortgage.

Here’s how it all shakes out according to ATTOM and the Tampa Bay Times.

Highest equity rich shares all in the Northeast and West

The top 10 states with the highest share of equity rich properties in the third quarter were all in the Northeast and West regions, led by California (40.8 percent); Hawaii (39.2 percent); Vermont (39.0 percent); New York (35.7 percent); and Washington (35.6 percent).

Among 107 metropolitan statistical areas analyzed in the report with a population greater than 500,000, those with the highest shares of equity rich properties were San Jose, CA (62.7 percent); San Francisco, CA (51.1 percent); Los Angeles, CA (46.6 percent); Santa Rosa, CA (46.5 percent); and Honolulu, HI (39.4 percent). The leader in the Northeast region was Boston, MA (35.4 percent) while Dallas, TX led the South (38.2 percent) and Grand Rapids, MI led in the Midwest (27.8 percent).

Top equity-rich counties concentrated in California

Among the 1,467 counties with at least 2,500 properties with mortgages in the third quarter, 10 of the top 25 equity-rich locations were in California.

Counties with the highest share of equity rich properties were San Francisco, CA (70.5 percent); San Mateo, CA (68.6 percent); Santa Clara, CA (63.6 percent); San Juan, WA (60.0 percent); and Kings County (Brooklyn), NY (55.6 percent).

More than half of all properties were equity rich in 415 zip codes

Among 8,213 U.S. zip codes with at least 2,000 properties with mortgages, there were 415 zip codes where at least half of all properties with a mortgage were equity rich.

Forty-six of the top 50 were in California, with most in the San Francisco Bay area. They were led by zip codes: 94116 in San Francisco (82.6 percent equity rich); 94122 in San Francisco (81.1 percent equity rich); 11220 in Brooklyn, NY (78.3 percent equity rich); 94306 in Palo Alto, CA (77.9 percent equity rich); and 94112 in San Francisco (77.9 percent equity rich).

Pinellas County has the most equity-rich homeowners, Pasco the fewest

For the Tampa Bay Area, the ZIP code 33785, which includes Indian Rocks Beach, had the highest percentage of equity-rich homes at 39.9 percent, closely followed by ZIPs encompassing the downtown and Snell Isle areas of St. Petersburg.

The Hillsborough ZIP that includes the West Shore area ranked fifth on the list with 38 percent of mortgaged homes there worth far more than the borrowed amounts. Other Hillsborough ZIPs in the top 25 were Tampa’s Egypt Lake, Town ‘n’ Country, Palma Ceia and Davis Islands. All were above 32 percent.

Unsurprisingly, homeowners in wealthy waterfront areas are most apt to be equity rich although parts of inland Pinellas Park also ranked in the top 25. Homeowners in areas with new subdivisions like Riverview tend to have less equity.

Pasco’s top ZIP was one including Holiday and Forest Hills (26 percent) while Spring Hill took Hernando’s honors (24 percent).

For the complete list of Tampa Bay’s top 25 most equity-rich ZIPS, read more here.

From equity rich to seriously underwater, our experienced real estate professionals have seen it all – and have lived to the tale. For a real estate team with the experience, dedication and market knowledge to find yourself on the (far) right side of equity, count on DeLeon Sheffield Company.

Because at DeLeon Sheffield Company, ‘We’re More Than Realty; We’re Family.’