Blog

Net Worth: A Homeowner’s is 36x Greater Than A Renter!

February 9, 2015 | By: Rebecca Keeney, REALTOR®, Berkshire Hathaway HomeServices Towne Realty

Printer Friendly Version here.
Net Worth: A Homeowner's is 36x Greater than a Renters! | Keeping Current Matters

 

Over the last six years, homeownership has lost some of its allure as a financial investment. As homeowners suffered through the housing bust, more and more began to question whether owning a home was truly a good way to build wealth.

Every three years the Federal Reserve conducts a Survey of Consumer Finance in which they collect data across all economic and social groups.

Some of the findings revealed in their report:

  • The average American family has a net worth of $81,200
  • Of that net worth, 61.4% ($49,856) of it is in home equity
  • A homeowner’s net worth is over 36 times greater than that of a renter.
  • The average homeowner has a net worth of $194,500 while the average net worth of a renter is $5,400

Bottom Line

There are many reasons why owning a home makes sense, the Fed study shows that owning is still a great way for families to build wealth in America.


Click here
to view the Survey of Consumer Finance

fedreserve_studyrevised_400 



Find me on:
FacebookTwitterLinkedInDiggActive Rain

Home | About Us | Featured Properties | Property Finder | Services | Real Estate Tools | Blog | Contact Us | Terms | Sitemap | Login
© Copyright 2019 by Rebecca Keeney. All rights reserved | Design by Rebecca Keeney and Agent Image - Real Estate Web Design