A recent article in The New York Times highlighted the tremendous equity that American homeowners have amassed over the last two years as home values have shot up. Now, a new report is giving a sense of the areas around DC where homeowners have become "equity rich" during that time.
ATTOM Data Solutions published data this week that looks at the cities and states around the country where homeowners have the most equity in their homes. By "equity rich", ATTOM means that the combined amount of loan balances on a home is no more than 50% of the estimated market value of the home itself.
ATTOM provided UrbanTurf with zip code-level home equity data for DC, and we parsed through the numbers to find the equity-rich areas around the city.
Leading the way is the 20015 zip code (Barnaby Woods, Chevy Chase DC and Friendship Heights) where 57% of homeowners are considered equity-rich. The median home price is up approximately 20% in this zip code over the last two years. Following behind 20015, are the 20012 (Colonial Village, Takoma, Shepherd Park) and 20016 (AU Park, Spring Valley) zip codes, where just under 50% of homeowners are equity rich.
The zip codes with the lowest percentage of high equity homeowners include neighborhoods like Logan Circle, Columbia Heights and Shaw.
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This article originally published at https://dc.urbanturf.com/articles/blog/where-are-people-house-rich-in-dc/19638.
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