California homeowners with a mortgage held an average of $627,000 in home equity at the start of 2026, more than double the national average of $310,500, according to a Cotality report for the first quarter of 2026. That figure ranks California second among the states, behind only Hawaii. Key Takeaways California’s average mortgaged home equity reached $627,000 in the first quarter of 2026, more than double the national average of $310,500. Hawaii ranked first nationally