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A Homeowners Net Worth Is 36x Greater Than A Renter
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 LineThe Fed study found that homeownership is still a great way for a family to build wealth in America.
Jason has been a real estate broker since 2005 and has continued to sharpen his skills to become one of the most outstanding agents in Portland. Working with Jason you will find that he is an excelle....
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$1500000 / 1816ft2 - Close in SE Portland pocket community of brand new homes for sale. The... 10 Bed )