The Top 20% of Earners Hold Over Half of America’s Real Estate Wealth

The wealthiest Americans hold nearly 60% of the country’s real estate wealth while the bottom 20% of earners hold just 5%

SEATTLE--(BUSINESS WIRE)--America’s top 20% of earners hold 56.4% of the country’s $48 trillion in real estate wealth, according to a new report from Redfin, the real estate brokerage powered by Rocket. By comparison, the bottom 20% of U.S. earners hold just 5.1% of real estate wealth.

The top 1% of earners in America held 12.7% of the country's real estate wealth—almost the same as the bottom 40% of earners, who held just 12.9%. Those in the 80th to 99th income percentile held 43.7% of real estate wealth, and those in the 40th to 60th percentile held 12.4%. Redfin’s report is based on its analysis of Federal Reserve Board data as of the third quarter of 2025—the most recent period for which data is available.

Top 1% See Increases in Share of Real Estate Wealth

While shares across income percentiles have held steady over the past decade, the highest-earning Americans now own a larger share of real estate wealth than they did in decades past. The top 1% of earners’ 12.7% share is up from 7.8% in the third quarter of 1989—the first quarter for which data is available.

“The wealthiest Americans hold a sizable slice of the real estate pie as elevated home prices and high mortgage rates make it difficult for lower earners to break into the housing market,” said Redfin Chief Economist Daryl Fairweather. "But housing wealth is actually more evenly distributed than other sources of wealth in America; the top 20% of earners hold over 70% of the nation's total wealth, compared with less than 60% of real estate wealth."

The good news is housing affordability has started to improve thanks to slowing home price growth and a dip in mortgage rates. Redfin economists expect further improvement this year as income growth outpaces home price growth, which will likely help some lower-income house hunters move off the sidelines. Mortgage rates now sit at just above 6%, down from nearly 7% last spring but up from just below 6% at the end of February.

To view the full report, including charts, please visit:
https://www.redfin.com/news/real-estate-wealth-by-income

About Redfin

Redfin is a technology-driven real estate company with the country's most-visited real estate brokerage website. As part of Rocket Companies (NYSE: RKT), Redfin is creating an integrated homeownership platform from search to close to make the dream of homeownership more affordable and accessible for everyone. Redfin’s clients can see homes first with on-demand tours, easily apply for a home loan with Rocket Mortgage, and save thousands in fees while working with a top local agent.

You can find more information about Redfin and get the latest housing market data and research at https://www.redfin.com/news. For more information about Rocket Companies, visit https://www.rocketcompanies.com.