Net Worth Of Homeowners 44X Greater Than Renters

Dated: 10/12/2017

Views: 26

Image title



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, meet with a real estate professional in your area who can guide you through the process. 

Start your Connecticut Home Search now: http://bit.ly/2o9Z79q 

Latest Blog Posts

Buying Remains Cheaper

In the latest Rent vs. Buy Report from Trulia, they explained that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the

Read More

Remodeling Projects That Bring Joy

Homeowners and renters remodel, redesign, and restructure their home for a variety of reasons. From April through August of 2017, Houselogic.com surveyed consumers about the last home improvement

Read More

Is Your Home For Sale Unique

That headline might be a little aggressive; however, as August 2017’s housing market data begins to roll in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST

Read More

With Demand Increasing This May Be The Perfect Time To Get The Best Price For Your Home

That headline might be a little aggressive; however, as August 2017’s housing market data begins to roll in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST

Read More