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

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

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 Finances 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.


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2 replies
  1. Rosanne Barone
    Rosanne Barone says:

    This article was sent to a potential young professional buyer; he appreciated it very much. And it is moving him along in making the decision to enter more deeply into the real estate market.

    Thanks for the visuals, too…great!

    Reply

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