Net Worth Of Homeowners 44X Greater Than Renters

Dated: 10/20/2017

Views: 67

Net Worth of Homeowners 44X Greater than Renters | Simplifying The Market

Net Worth of Homeowners 44X Greater than Renters

   First Time Home Buyers, For Buyers, For Sellers, Move-Up Buyers, Rent vs. Buy

Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey data, covering 2013-2016 was released two weeks ago.

The study revealed that the 2016 median net worth of homeowners was $231,400 – a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013).

These numbers reveal that the net worth of a homeowner is over 44 times greater than that of a renter.

Owning a home is a great way to build family wealth

As we’ve said before, simply put, homeownership is a form of ‘forced savings.’ Every time you pay your mortgage, you are contributing to your net worth by increasing the equity in your home.

That is why, for the fourth year in a row, Gallup reported that Americans picked real estate as the best long-term investment. This year’s results showed that 34% of Americans chose real estate, followed by stocks at 26% and then gold, savings accounts/CDs, or bonds.

Greater equity in your home gives you options

If you want to find out how you can use the increased equity in your home to move to a home that better fits your current lifestyle, let’s get together to discuss the process.

Blog author image

Jim Haggerty

It's another beautiful day in Paradise! After 20 years as a computer programmer I'm adept at gathering requirements and then exceeding customer expectations using premier communication and negotia....

Latest Blog Posts

4 Reasons To Sell This Fall

4 Reasons to Sell This Fall  Friday October 13th, 2017  First Time Home Buyers, For Buyers, For Sellers,Infographics, Move-Up BuyersSome Highlights: Buyer

Read More

Net Worth Of Homeowners 44X Greater Than Renters

Net Worth of Homeowners 44X Greater than Renters  Thursday October 12th, 2017  First Time Home Buyers, For Buyers, For Sellers, Move-Up Buyers, Rent vs.

Read More

Moving Up To A Luxury Home Now Is The Time

Moving-Up to a Luxury Home? Now’s the Time! Wednesday October 18th, 2017  For Sellers, Luxury Market, Millennials,Move-Up BuyersIf your house no longer fits your needs and

Read More

Hiring An Agent To Sell Your House May Cost You NOTHING

Hiring an Agent to Sell Your House May Cost You NOTHING!  Thursday October 19th, 2017  For Sellers, FSBOs, Move-Up Buyers, Selling MythsThere is no doubt that it is

Read More