Most Tampa Bay homeowners are sitting on substantially more equity than they realize. After 43+ years tracking values across five counties, our team can tell you that the average homeowner who bought before 2022 has gained tens or hundreds of thousands in equity — and that equity can drive your next move.
What home equity is
Home equity is your home’s current market value minus what you still owe on your mortgage. A home worth $500,000 with $250,000 remaining on the mortgage = $250,000 in equity.
How much equity do Americans actually have?
Recent Census and ATTOM data show:
- Over one-third of U.S. homeowners own their homes outright (no mortgage)
- An additional one-third have 50%+ equity
- Total U.S. homeowner equity is at historic highs
For Tampa Bay specifically, anyone who bought before 2020 has likely seen 40–80% appreciation depending on submarket. That equity is real and accessible.
How equity drives your next move
- Upsize: Equity becomes the down payment on the next home, often eliminating PMI
- Downsize: Sell for cash, buy smaller home outright, pocket the difference
- Cash-out refi: Borrow against equity for renovations or other goals
- HELOC: Line of credit secured by equity, useful for ongoing projects
How to find out what you have
A comparative market analysis (CMA) from your local agent is the most accurate way to estimate current value. Online estimates (Zillow, Redfin) can be off by 5–15% in either direction. Our team provides free CMAs for Tampa Bay homeowners thinking about their next move.
The bottom line
Most owners have more equity than they realize. Knowing the actual number is the first step in deciding what is possible next. Talk to your agent and a financial advisor before making moves that use your equity.