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

Friday, February 13, 2015   /   by June Quilantang

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

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 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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Rummy Dhanoa - Broker with New York Real Estate Experts

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The data relating to real estate for sale or lease on this web site comes in part from One Key, Inc. Real estate listings held by brokerage firms other than Rummy Dhanoa - eXp Realty - New York Real Estate Experts are marked with the One Key, Inc logo or an abbreviated logo and detailed information about them includes the name of the listing broker.

The information appearing herein has not been verified by One Key, Inc or by any individual(s) who may be affiliated with said entities, all of whom hereby collectively and severally disclaim any and all responsibility for the accuracy of the information appearing at this web site, at any time or from time to time. All such information should be independently verified by the recipient of such data. This data is not warranted for any purpose.

©2020 One Key, Inc. All rights reserved.