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While the number of homes that are “equity-rich” are declining across the country, Massachusetts homeowners have some of the most equity in their homes nationwide according to a new report from real estate data company Attom.

The company defined an equity-rich property as one where its loan-to-value ratio is at 50 percent or lower, meaning the owner has at least 50 percent equity.

The company’s data shows 53.2 percent of mortgaged Massachusetts homes were equity-rich in the first quarter. While this is the eighth-largest in the nation, the figure represents a year-over-year drop from 55.9 percent in 2025.

Most of these “equity-rich” properties exist on Cape Cod and the Islands. Nantucket held the most equity-rich properties in the state when ranking by county, followed by Dukes County second and Barnstable County third.

The relatively high ratios of equity in homes locally has implications for owners’ ability to borrow against that equity.

Nation-wide, the share of equity-rich properties are falling. Attom’s data shows 43.3 percent of mortgaged residential properties in the United States were equity-rich, down from 46.2 percent in the first quarter of 2025.

“Homeowner equity remains relatively strong overall, but we’re seeing signs of moderation,” Attom CEO Rob Barber said in a statement. “As mortgage rates have risen and home prices have cooled, the share of equity-rich homes has declined in most markets while the rate of seriously underwater properties is edging up across much of the country.”

Vermont has the most “equity-rich” properties, with 85.7 percent of homeowners having at least 50 percent equity in their property. New Hampshire is in second with 58.1 percent of homes being “equity-rich”.