San Jose area has highest ‘equity-rich’ mortgage rate among California’s largest MSAs


Among California’s most populous urban centers, San Jose-Sunnyvale-Santa Clara posted the highest percentage of properties with mortgages that have at least 50 percent equity in their homes, according to an analysis by ATTOM Data Solutions looking at home equity.

In the San Jose MSA, 66.1 percent of mortgages -- representing 242,770 properties -- were ranked “equity-rich” in the first quarter of this year, followed by the San Francisco-Oakland-Hayward MSA (56 percent) and Los Angeles-Long Beach-Anaheim (45.4 percent).

The analysis, which ranked only urban areas with 500,000 or more people, is based on a home’s estimated market value.

Altogether, U.S. states, including the District of Columbia, had more than 13.8 million properties were equity-rich at the end of March. That includes a quarter of all properties with a mortgage, which is a percentage point higher than at the end of the first quarter last year.

ATTOM Data Solutions lacked enough data for some states and MSAs to rank their home equity numbers.

Home mortgage equity rankings among MSAs

MSAStatePopulationHousing Units Q1 2018 Equity Rich Q1 2018 Pct Equity Rich
San Jose-Sunnyvale-Santa ClaraCA1,943,107670,044  242,770 66.1%
San Francisco-Oakland-HaywardCA4,577,5301,772,411  522,609 56.0%
Los Angeles-Long Beach-AnaheimCA13,189,3664,562,239  998,314 45.4%
Urban HonoluluHI986,999342,982  73,040 43.1%
Seattle-Tacoma-BellevueWA3,671,0951,513,374  348,631 39.1%
San Diego-CarlsbadCA3,253,3561,187,644  240,467 38.5%
Oxnard-Thousand Oaks-VenturaCA843,110284,759  66,991 37.4%
Austin-Round RockTX1,942,615764,989  129,930 35.3%
Salt Lake CityUT1,154,504397,381  82,986 35.1%
Dallas-Fort Worth-ArlingtonTX6,957,1232,650,896  430,881 34.3%
Portland-Vancouver-HillsboroOR-WA2,351,319950,203  183,956 34.1%
Stockton-LodiCA714,860237,752  47,034 34.0%
New York-Newark-Jersey CityNY-NJ-PA20,031,4437,874,833  837,188 33.6%
Denver-Aurora-LakewoodCO2,752,0561,118,261  231,473 33.5%
ModestoCA530,561180,386  34,281 33.3%
Sacramento--Roseville--Arden-ArcadeCA2,242,542885,251  169,807 32.4%
Riverside-San Bernardino-OntarioCA4,430,6461,528,742  263,094 29.8%
San Antonio-New BraunfelsTX2,332,345864,566  118,926 29.5%
Miami-Fort Lauderdale-West Palm BeachFL5,926,9552,496,696  338,155 29.1%
Houston-The Woodlands-Sugar LandTX6,482,5922,448,566  314,582 28.6%
Buffalo-Cheektowaga-Niagara FallsNY1,135,503520,523  53,946 28.3%
Palm Bay-Melbourne-TitusvilleFL560,683272,437  39,283 27.5%
PittsburghPA2,354,9261,105,969  105,497 27.4%
North Port-Sarasota-BradentonFL751,422410,952  52,604 27.4%
Nashville-Davidson--Murfreesboro--FranklinTN1,794,570733,796  112,952 27.2%
Cape Coral-Fort MyersFL680,970377,081  43,507 26.4%
Provo-OremUT574,684162,263  27,136 25.6%
FresnoCA963,160323,857  43,303 25.4%
SyracuseNY660,652289,965  18,503 25.0%
McAllen-Edinburg-MissionTX828,334261,496  18,080 24.9%
Boise CityID663,680256,399  39,377 24.8%
Providence-WarwickRI-MA1,609,359693,904  84,519 24.7%
Albany-Schenectady-TroyNY879,291397,658  26,187 24.7%
Deltona-Daytona Beach-

Ormond Beach

FL613,723305,821  38,183 24.7%
Ogden-ClearfieldUT632,793212,777  32,586 24.6%
Tampa-St. Petersburg-ClearwaterFL2,927,7141,376,984  150,417 23.5%
Phoenix-Mesa-ScottsdaleAZ4,486,1531,846,867  248,519 23.4%
KnoxvilleTN857,111387,109  39,515 23.0%
Spokane-Spokane ValleyWA542,604236,197  27,276 22.8%
RochesterNY1,082,226475,070  34,221 22.4%
Charleston-North CharlestonSC728,271313,703  31,059 21.7%
Detroit-Warren-DearbornMI4,296,7311,893,454  184,447 21.4%
Grand Rapids-WyomingMI1,028,173408,968  47,391 21.4%
LancasterPA533,110206,308  23,659 21.1%
Orlando-Kissimmee-SanfordFL2,328,508976,455  102,720 21.1%
Las Vegas-Henderson-ParadiseNV2,070,153864,164  99,105 21.1%
BakersfieldCA871,337291,292  34,001 21.1%
Allentown-Bethlehem-EastonPA-NJ830,737344,453  37,131 20.7%
Minneapolis-St. Paul-BloomingtonMN-WI3,488,4361,414,179  135,746 20.7%
MadisonWI634,269275,682  23,516 20.5%
ChattanoogaTN-GA544,522238,504  20,112 20.5%
Washington-Arlington-AlexandriaDC-VA-

MD-WV

6,011,7522,303,093  274,982 20.4%
Philadelphia-Camden-WilmingtonPA-NJ-

DE-MD

6,047,7212,449,355  261,282 20.2%
Scranton--Wilkes-Barre--HazletonPA559,898258,929  12,836 20.0%
Milwaukee-Waukesha-West AllisWI1,571,730672,345  49,263 19.9%
Colorado SpringsCO688,643278,294  34,873 19.9%
Durham-Chapel HillNC542,399232,895  17,475 19.9%
Greenville-Anderson-MauldinSC862,064369,921  28,821 19.8%
Charlotte-Concord-GastoniaNC-SC2,381,152974,598  96,366 19.4%
Baltimore-Columbia-TowsonMD2,780,8731,150,430  129,811 19.4%
El PasoTX837,073287,792  24,563 19.4%
Lakeland-Winter HavenFL637,691283,333  22,664 19.2%
RaleighNC1,243,720498,384  49,396 19.1%
Louisville-Jefferson CountyKY-IN1,269,550548,435  37,358 18.7%
Birmingham-HooverAL1,141,309507,518  31,563 18.5%
JacksonvilleFL1,424,097616,472  57,529 18.2%
TucsonAZ1,003,338450,828  40,873 18.1%
JacksonMS578,095237,698  3,120 17.9%
RichmondVA1,258,158518,998  43,570 17.5%
Winston-SalemNC654,589291,225  22,861 17.5%
Youngstown-Warren-BoardmanOH-PA552,521258,345  15,073 17.4%
AlbuquerqueNM904,486380,218  32,341 17.2%
Kansas CityMO-KS2,070,147885,626  66,680 17.2%
ColumbusOH1,995,004839,488  72,719 17.1%
Cleveland-ElyriaOH2,061,630956,766  79,967 17.1%
Chicago-Naperville-ElginIL-IN-WI9,528,3963,806,802  333,400 17.0%
WichitaKS640,505270,248  17,580 16.9%
St. LouisMO-IL2,803,4491,237,807  108,782 16.7%
Harrisburg-CarlislePA561,447245,147  15,765 16.7%
CincinnatiOH-KY-IN2,146,410919,236  73,463 16.4%
Indianapolis-Carmel-AndersonIN1,968,768836,782  61,114 16.1%
Atlanta-Sandy Springs-RoswellGA5,612,7772,219,590  173,072 16.0%
ToledoOH606,684273,080  19,201 16.0%
Greensboro-High PointNC746,301328,431  20,093 15.9%
New Orleans-MetairieLA1,250,247553,791  22,116 15.9%
AkronOH703,168313,270  26,012 15.8%
Fayetteville-Springdale-RogersAR-MO503,642205,416  14,559 15.7%
Virginia Beach-Norfolk-Newport NewsVA-NC1,714,428706,394  53,828 15.7%
Omaha-Council BluffsNE-IA904,834374,190  29,955 15.4%
Augusta-Richmond CountyGA-SC584,964249,314  14,885 15.2%
Des Moines-West Des MoinesIA611,755253,912  21,287 15.0%
MemphisTN-MS-AR1,341,339563,649  35,195 15.0%
Oklahoma CityOK1,337,075557,461  39,752 14.9%
TulsaOK970,603421,536  26,881 14.4%
DaytonOH800,950367,700  24,887 14.2%
ColumbiaSC800,559342,212  19,111 14.0%
Little Rock-North Little Rock-ConwayAR727,371318,085  17,704 13.8%
Baton RougeLA824,667342,165  13,340 12.2%
Source: ATTOM Data Solutions

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