Header Ads

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

Great Dane HARLEQUIN and a chihuahua

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.

Source: http://www.simplifyingthemarket.com/en/2014/09/22/a-homeowners-net-worth-is-36x-greater-than-a-renter/?a=300707-b1182e40cfa0cba78377eee9df38896c

No comments:

Theme images by NickS. Powered by Blogger.