Utah Home Equity
3 Ways Your Home Equity Could Change Your Next Move in Utah
How could the equity in your Utah home affect your next move?
Your home equity may help reduce how much you need to finance, make an all-cash purchase more realistic, or help you improve the home you already own. The first step is understanding what your property may be worth today.
Quick Answer
Your Equity May Give You More Options Than You Realize
Cotality reports that the average U.S. borrower with a mortgage has $310,500 in home equity.
The map shows Utah at approximately $334,000. Depending on your home’s current value, mortgage balance, selling costs, and goals, that equity could help support a larger down payment, make an all-cash purchase more realistic, or help fund improvements to your current home.
Source:
Cotality
The Number to Know
Your House May Be Worth More Than You Think
When was the last time someone gave you a current, property-specific opinion of what your home could be worth?
An automated estimate or a nearby sale may provide context, but neither one fully accounts for your home’s condition, improvements, location, features, and the current competition in your local market.
Equity is the difference between your home’s estimated current market value and the amount you still owe against it. It can grow as your mortgage balance declines and as the value of the property changes over time.
According to
Cotality
,
the average U.S. borrower with a mortgage held $310,500 in equity in its July 2026 report.
That is a national average, not an estimate of your property. The number that matters most is the equity you may have built in your specific Utah home.
$310,500
U.S. Average
Average home equity held by a U.S. borrower with a mortgage, according to Cotality.
$334K
Utah Average
Approximate Utah figure shown in the Cotality map provided for this article.
Your Next Move
Your Home May Hold More Options Than You Realize
The Missing Piece
Your Equity Could Change the Math of Your Move
Higher home prices and mortgage rates are real considerations. But they are not the only numbers that matter.
If you have built substantial equity, you may not be approaching your next purchase from the same starting point as a first-time buyer. Your potential net proceeds could give you more flexibility when evaluating a down payment, financing, purchase price, or renovation.
You may be carrying more purchasing power into your next decision than you realize.
Three Possibilities
What Your Home Equity Could Help You Do
Equity does not remove every challenge in today’s market. It may, however, give you more options when deciding what should come next.
01
Reduce How Much You Need to Borrow
The proceeds from selling your current home may allow you to make a larger down payment on your next property.
A larger down payment reduces the amount you need to finance. Depending on the loan, interest rate, taxes, insurance, and other costs, borrowing less may reduce the principal and interest portion of your monthly payment.
Compare the Full Picture
Do not compare your next home only with what you paid for your current property years ago. Compare the new cost with the equity and purchasing power you may be carrying forward.
02
Make an All-Cash Purchase More Realistic
Some longtime homeowners have accumulated enough equity to purchase their next property with little or no financing, particularly when moving to a different price point or market.
26%
of existing-home sales in July 2026 were all-cash purchases, according to NAR.
Not every cash buyer used equity from a previous home sale. Still, accumulated housing wealth can provide repeat buyers with an important source of purchasing power.
Your Numbers Will Be Different
An all-cash purchase depends on your net sale proceeds, transaction costs, taxes, destination, budget, and the type of property you plan to buy.
03
Improve the Home You Already Own
Your next move may not require a new address. If you value your current location but the property no longer fits your needs, renovations may be another option to evaluate.
Depending on your circumstances, available equity could potentially help fund improvements to the layout, functionality, or condition of your home.
Review the Full Cost
Borrowing against home equity creates a financial obligation. Review rates, fees, repayment terms, tax considerations, and project costs with qualified professionals before making a decision.
Final Takeaway
Your Equity Could Be the Number That Changes Your Next Move
Higher prices and mortgage rates deserve careful consideration, but they are not the only factors shaping your options.
When you understand your home’s likely current value, estimated selling costs, remaining mortgage balance, and potential net proceeds, you can evaluate your next move with more useful information.
The question may not be whether you can move. It may be which move makes the most sense for you.
Find Out What Your Home Equity Could Make Possible
The Lance Group Real Estate can prepare a personalized, market-based Home Equity Assessment to help you understand what your Utah home could be worth, how much equity you may have built, and what that could mean for your next move.
Request Your Home Equity Assessment
A Home Equity Assessment is a comparative market estimate and is not a formal appraisal, loan approval, tax opinion, or guarantee of sale price or net proceeds.
Sources
National Association of REALTORS®
Rising Costs Are Weighing on Home Sales This Summer.
View NAR Source
