Homeowners in West Virginia have gained more home equity over the past five years than anywhere else in the country.
Home equity — the difference between what your home is worth and what you still owe on it — has surged 450% since 2020 in the Mountain State, according to a new Bankrate analysis.
While home equity isn’t spendable cash unless you sell or borrow against it, a surplus still adds to homeowners’ net worth. That extra value can make it easier to qualify for a home equity loan or line of credit, free up cash for renovations and, if you sell, put more cash toward retirement.
It can be a significant financial boost, too, considering that housing makes up the largest share of household wealth for most Americans, according to New York Federal Reserve data.
Bankrate compared Zillow’s typical home values with Experian’s average mortgage balances for active borrowers in all 50 states in early 2020 and early 2025 to measure the change. In Zillow’s terms, “typical” reflects the value of a mid-market home — roughly those in the middle third of the market, rather than a simple average or median sale price.
