Nearly half of all mortgaged residential properties in the United States are considered "equity-rich," according to a new report from ATTOM Data Solutions, which has counted 10 straight quarters of this rising trend.
ATTOM defines equity-rich as when the the amount of money that is still owed on a property is no more than 50% of its estimated market value.
The national rate is 48.5%. New Jersey falls well below the national equity-rich rate at 40.2%.
The state, however, compares favorably, at 2.7%, with the 2.9% U.S. average of mortgages that are considered seriously underwater.
Get our free mobile app
Breaking the numbers down at the municipal level, the ZIP code 08202 — Avalon in Cape May County — ranks 13th nationwide with 82.4% equity-rich properties.
The Jersey Shore actually dominates the Garden State's top 10 ZIPs, while three of the bottom 10 ZIPs in terms of equity-rich homes can be found in or around the state capital of Trenton.