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A Homeowner’s Net Worth is 36x Greater Than A Renter! | Keeping Current Matters

October 1, 2014 by Admin
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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.

The Federal Reserve conducts a Survey of Consumer Finances, every three years, and just released their latest edition this past week.

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

The Fed study found that homeownership is still a great way for a family to build wealth in America.

via A Homeowner’s Net Worth is 36x Greater Than A Renter! | Keeping Current Matters.

 
 

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