What kind of appreciation in home equity can you expect when you buy a property? It’s rarely easy to predict — although if you’re fortunate or clever enough to buy at a historic low point in the market, hindsight can be very agreeable when calculating how much your investment has increased in value.
A new study by Redfin took a look at home equity appreciation since 2012, the year home prices hit their post-Great Recession nadir. Buyers who picked up homes in the U.S. at bargain prices have seen huge increases in home equity, the study found — a total of $203 billion, or an average of 261 percent.
When the gains were measured in dollar amounts, owners in more expensive markets generally saw larger increases (particularly in California). The largest was in San Francisco, where a median-priced home has gained $741,000 in equity since 2012, a 329 percent spike.
While dollar increases were smaller in more modest markets, percentage increases were often far greater. Tacoma, Wash., saw the largest when measured this way, with equity on the median home rising 1,453 percent, or $218,000.
Below, the top 10 markets for home equity gains since 2012 when measured both ways.
Greatest Home Equity Growth From 2012 to 2019
MEDIAN
PERCENT
INCREASE
BY MEDIAN
PERCENT INCREASE
MEDIAN DOLLAR
INCREASE
BY MEDIAN
DOLLAR INCREASE
1,453%
1,333
1,067
790
781
769
677
643
638
631
Tacoma, Wash.
Virginia Beach
Greeley, Colo.
Spartanburg, S.C.
Salem, Ore.
Modesto, Calif.
Colorado Springs
Stockton, Calif.
Bremerton, Wash.
Olympia, Wash.
$218,000
$80,000
$192,000
$79,000
$164,000
$200,000
$149,000
$225,000
$204,000
$164,000
$741,000
$699,000
$604,000
$461,000
$364,000
$350,000
$322,000
$318,000
$311,000
$297,000
San Francisco
San Jose, Calif.
San Rafael, Calif.
Oakland, Calif.
Seattle
Santa Rosa, Calif.
Salinas, Calif.
Los Angeles
Anaheim, Calif.
Santa Maria, Calif.
329%
360%
247%
369%
461%
318%
322%
292%
219%
230%
Greatest Home Equity Growth
From 2012 to 2019
BY MEDIAN
PERCENT INCREASE
MEDIAN DOLLAR
INCREASE
1,453%
1,333
1,067
790
781
769
677
643
638
631
Tacoma, Wash.
Virginia Beach
Greeley, Colo.
Spartanburg, S.C.
Salem, Ore.
Modesto, Calif.
Colorado Springs
Stockton, Calif.
Bremerton, Wash.
Olympia, Wash.
$218,000
$80,000
$192,000
$79,000
$164,000
$200,000
$149,000
$225,000
$204,000
$164,000
BY MEDIAN
DOLLAR INCREASE
MEDIAN PERCENT
INCREASE
$741,000
$699,000
$604,000
$461,000
$364,000
$350,000
$322,000
$318,000
$311,000
$297,000
San Francisco
San Jose, Calif.
San Rafael, Calif.
Oakland, Calif.
Seattle
Santa Rosa, Calif.
Salinas, Calif.
Los Angeles
Anaheim, Calif.
Santa Maria, Calif.
329%
360%
247%
369%
461%
318%
322%
292%
219%
230%
This post first appeared on NYTimes.com. To see the original, click here.