Senior home equity surges to record $14.7T

Older U.S. homeowners held a record level of housing wealth in the third quarter of 2025, driven by rising home values and continued equity accumulation, according to the latest Reverse Mortgage Market Index (RMMI).

Housing wealth among homeowners ages 62 and older rose 1.9% in the third quarter of 2025 to $14.66 trillion, surpassing the previous record of $14.39 trillion set in the second quarter, according the index jointly created by the National Reverse Mortgage Lenders Association (NRMLA) and RiskSpan.

The RMMI increased to a reading of 511.99 — up from 502.47 in the prior quarter and the highest level since the index was launched in 2000.

The data tracks long-term trends in senior home values and equity to gauge potential demand for reverse mortgages.

“The latest release of the RMMI underscores the extraordinary level of housing wealth held by older Americans,” NRMLA President Steve Irwin said. “At a time when inflation pressures and the fear of outliving one’s retirement savings remain top concerns for retirees, home equity stands out as a powerful — yet often underutilized — financial resource.

“When incorporated responsibly into a broader retirement strategy, this wealth can help seniors offset rising costs, reduce income shortfalls, and gain greater peace of mind about their long-term financial security.”

An estimated 2% increase in home values added about $295.4 billion in senior housing equity during the quarter. That gain was partially offset by a roughly 1% rise in mortgage debt held by older homeowners — totaling about $22.8 billion.