No Obligation and transparency 24/7. Instantly compare live rates and costs from our network of lenders across the country. Real-time accurate rates and closing costs for a variety of loan programs custom to your specific situation.
Owning a home is one of the greatest ways to build wealth over time.
Of course, you have to pay your mortgage on a regular basis and maintain the property to keep it in good shape. But other than that, all you have to do is sit back and allow your home’s value to appreciate over time. Before you know it, you may have far more in home equity than you may have thought.
That’s exactly what’s happening to homeowners in the US, especially in the Pacific Northwest in states like Washington, Oregon, Idaho, California, and Colorado. While home prices have dipped slightly in some parts over the past 12 months, they’ve increased quite a bit over the years.
If you’re a homeowner, your net worth has gotten a boost this past year given the recent home price appreciation and the increases in equity that this brings. Here’s what you need to know.
Home equity is the current value of your home minus what you still owe on your mortgage. Your equity increases in a couple of ways, including the following:
When you pay down your mortgage over time
When home appreciation drives up the value of your home
According to recent data on US homeowners with mortgages, the average increase in home equity over the recent past in the US is $4,100.
But certain states far exceed that average, including WA, CO, OR, CA, and ID. More specifically, here’s how these four states fared according to the data recently collected:
To give you some perspective on price activity the past year, let’s take a look at where prices are at today – in April 2026 – relative to where they were last year.
Having equity in your home can open up many financial possibilities for you. Aside from helping you realize a healthy profit when or if you sell, you can also use that equity to cover the cost of major expenses.
For instance, you may need a sizable amount of money to pay for a major home renovation, your child’s college tuition, a big family vacation, or an urgent medical expense.
You can use the equity in your home to cover these costs through financial products such as a second mortgage or a Home Equity Line of Credit (HELOC). With equity, you can borrow from your own home without having to go through the process of applying for a traditional personal loan.
If you are not yet a homeowner but are looking to become one in the near future, now may be the perfect time to get into the market. Today’s home price appreciation is driving equity higher throughout the country. If your needs are changing and you’re ready for a new home, your equity may be a great asset to power your next move.
Pro Tip: Consider all loan options, including 15-year fixed-rate mortgages, 30-year fixed-rate mortgages, and adjustable-rate mortgages (ARMs), among others, before applying for a home loan that best suits your needs.
Do you have questions about home loans? Are you ready to apply for a mortgage to buy a home? If so, Sammamish Mortgage can help. We are a local mortgage company from Bellevue, WA, serving borrowers across Washington State, Idaho, Colorado, Oregon, and California. We offer many mortgage programs to buyers all over the Pacific Northwest and have been doing so since 1992. Visit our website to get an instant rate quote or to use our online mortgage calculator. Contact us today with any questions you have about mortgages or to get pre-approved for a mortgage.
Whether you’re buying a home or ready to refinance, our professionals can help.
Mortgage Support — 24/7
No Obligation and transparency 24/7. Instantly compare live rates and costs from our network of lenders across the country. Real-time accurate rates and closing costs for a variety of loan programs custom to your specific situation.
Adjust the parameters based on what you want to track