BIG DATA SANDBOX
zip codes with the highest share of underwater homes and highest share of equity rich homes in the nations’s 10 largest metros
There were nearly 5.5 million seriously underwater properties representing 9.7 percent of all U.S. properties with a mortgage, according to the ATTOM Data Solutions Q1 2017 U.S. Home Equity & Underwater Report. The percent of properties underwater is down from 12.0 percent a year ago but on the flip side equity rich properties are on the rise. There were over 13.7 million equity rich properties in the U.S., representing 24.3 percent with a mortgage, up from 22.0 percent a year ago. In looking at the largest metro areas in the U.S., we found the top ZIPs that are drowning vs. those ZIPs where equity is saturated.
ZIP CODES SERIOUSLY UNDERWATER (LTV 125+)
ZIP EQUITY RICH (LTV 50 or Lower)
The ATTOM Data Solutions U.S. Home Equity & Underwater report provides counts of residential properties based on loan to value (LTV) ratios at the state, metro, county, city and ZIP code level. The equity/LTV calculation is derived from a combination of record-level open loan data and record-level estimated property value data. A seriously underwater property has an LTV ratio of 125 percent or above, meaning the owner owes at least 25 percent more than the estimated market value of the property. An equity rich property has an LTV ratio of 50 percent or below, meaning the owner owes 50 percent or less of the estimated market value of the property.
ATTOM Data Solutions • P15
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