Homeowners are now sitting on $35.8T in equity — here's the breakdown

Fed just released the numbers (Z.1 report, Sept 2026):

• Total value of all U.S. homes: $49.8T (up 2.5% YoY)

• Total mortgages/loans against them: $14.0T (up 3.0% YoY)

• Net equity owners actually hold: $35.8T (up 2.2% YoY)

• Share of homes owned free and clear: 71.9% — 13 straight quarters above 70%

Prices have barely moved this year, but that's not the same as no opportunity. Most owners are still sitting on a huge equity cushion money that can fund a renovation, a down payment on the next property, or just breathing room if things get tight.

If you're an investor or owner and not sure what your equity position actually looks like, that's worth running the numbers on.

Source: Federal Reserve Z.1 / NAHB, September 2026.