Rising home equity during the Covid-19 pandemic has pushed up the median net worth of U.S. households by $40,000 from 2019 to 2022, according to a new data release from the Census Bureau. Driven by a sharp increase in house prices, median home equity climbed by $47,900.
Median household net worth rose from $136,500 to $176,500 during the period, in inflation-adjusted dollars.
“In 2022, about 62.2% of households reported home equity with a median value of $198,000 and about 35.7% of households held home debt with a median value of $160,000,” the report noted. The paper defined equity as “the value of an asset, minus any secured debts held against it.” Home equity is calculated by subtracting any amount still owed on a mortgage from the value of a home.
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