Americans Have $34.5 Trillion in Home Equity [LendingTree Study]

Homeowners are sitting on tens of trillions of dollars of home equity. In fact, home equity has jumped $600 billion from Q1 2024 — and that could unlock significantly higher home equity loan offers for some. 

To better understand how much money homeowners are looking to borrow against their equity, we analyzed 700,000 home equity loans offered to users of the LendingTree platform across the nation’s 50 states from January to May of this year. Here's what we found.

• American households have $34.5 trillion in home equity as of the first quarter of 2025. That’s a $600 billion increase from Q1 2024 and a $4.7 trillion spike from Q1 2023, when they had $29.8 trillion in equity.
• Home equity loan offers top an average of $140,000 nationwide. Homeowners were offered an average of $144,330 in early 2025 — a significant 38.6% jump from $104,102 in early 2023. 
• Home equity loan offers are highest in Hawaii, California and Utah. In the Aloha State, loan offers average $493,143 — at least $160,000 above California ($326,923) and Utah ($323,702). 
• West Virginia, Iowa and Arkansas see the lowest home equity loan offers. Home equity loan offers in these states average $64,916, $72,817 and $81,645, respectively. 

You can check out the full report here: https://www.lendingtree.com/home/mortgage/home-equity-loans-study/

LendingTree's Chief Consumer Finance Analyst, Matt Schulz, had this to say:

“Home equity gives you options, which is so important when you’re trying to knock down debt in a time of high interest rates. Home equity loans shouldn’t be entered into lightly because using your home as collateral is serious business, but they’re absolutely worth considering for those who are struggling with high-interest debts.”