Analysis: 16.1 percent of Illinois property owners are ‘equity rich’
In Illinois, owners of more than 393,000 properties with mortgages have at least 50 percent equity in their homes, according to an analysis by ATTOM Data Solutions looking at home equity at the end of the first quarter.
The state ranks 41st in the U.S., with 16.1 percent of all properties with a mortgage considered “equity rich.” The analysis is based on a home’s estimated market value.
Altogether, U.S. states and the District of Columbia had more than 13.8 million properties that 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 to rank their home equity numbers.
Home mortgage equity rankings
|State||Q1 2018 Equity Rich||Q1 2018 Percent Equity Rich|
|District of Columbia||32,409||30.9%|