Florida Leads in Equity-Rich Homes
In Q4 2024, Florida had 60.7% equity-rich homes, down from 62% in 2023, with Miami-Dade leading at 64.4% and few underwater properties statewide.
MIAMI —The real estate data research firm ATTOM reported that for 2024's fourth quarter, South Florida had the seventh highest percentage (60.7%) of equity-rich, mortgaged residential properties across 100 U.S. metro areas with populations of approximately 500,000 people.
These homes were worth at least 50% more than the property's outstanding mortgages. The figure was slightly less than the 62% of South Florida homes that were considered equity rich in 2023's fourth quarter.
However, ATTOM reported that across the U.S., just 47.7% of homes were equity rich. ATTOM also reported that 43.9% of homes in Jacksonville, 50.6% of homes in Cape Coral-Fort Myers, 52% of homes in North Port-Sarasota-Bradenton, 48.4% of homes in Orlando-Kissimmee and 49% of Tampa-St. Petersburg homes are considered equity rich.
Miami-Dade County had the highest percentage of equity-rich homes at 64.4%, according to ATTOM. In Miami-Dade County, just 0.9% of mortgaged homes were underwater, compared with 1.1% in Palm Beach County and 1% in Broward County.
Source: South Florida Business Journal (02/03/25) Bojnansky, Erik
© Copyright 2025 Smithbucklin