Home Equity, Household Net Worth Rose During COVID-19

The median home equity for homeowning households increased by $47,900, from $150,146 in 2019 to $198,000 in 2022, according to the U.S. Census Bureau. This rise helped to drive the median net worth of U.S. households by about $40,000, from $136,500 in 2019 to $176,500 in 2022 (adjusted for inflation). Among more commonly held assets, home equity had the largest value. 

In 2022, 62.2% of households reported home equity with a median value of $198,000, and 35.7% held home debt with a median value of $160,000. 

The median values of other top household assets in 2022 were: 

• Rental property equity: $200,000 
• Annuities and trusts: $100,000 
• Other real estate equity: $100,000 
• Total retirement accounts: $75,000 
• Stocks and mutual fund shares: $38,000 

On the other hand, the median values of debts aside from home debt were: 

• Student loans: $22,000 
• Business debt: $20,000 
• Vehicle debt: $16,000 
• Credit card debt: $4,000 
• Medical debt: $2,000 

In terms of demographics and home equity changes, the median home equity for all race and ethnicity groups increased as well, with households with Asian homeowners seeing the greatest rise. The increases in home equity per group were: 

• Asian alone: $124,357 
• White alone, non-Hispanic: $39,806 
• Hispanic (of any race): $51,573 
• Black alone: $50,293 

Additionally, a greater share of households reported having home equity, increasing slightly from 61.3% in 2019 to 62.2% in 2022. 

By age, in 2022, younger homeowners typically had higher amounts of debt, with the youngest homeowners (under 35) holding twice as much home debt ($200,000) as those 75 and older ($100,000). There was also a difference in home debt between households with children under 18 ($197,000) and those without ($140,000).