Do you want content like this delivered to your inbox?
Share
Share

Homeowners' Net Worth Is Nearly 40x Greater Than Renters

The Federal Reserve conducts a Survey of Consumer Finances across various social and economic groups every 3 years. The most recent survey reports show that, on average, a homeowner’s net worth is approximately 36 times greater than the net worth of a renter ($194,500 vs. $5,400).

The National Association of Realtors’ (NAR) Chief Economist, Lawrence Yun, predicted that by the end of 2016, the net worth gap would widen even further to 45 times greater.

The graph below demonstrates the results of the last two Federal Reserve studies and Yun’s prediction:

Homeowner’s Net Worth Is 45x Greater Than a Renter’s | Keeping Current Matters

Put Your Housing Cost to Work for You

In simple terms, owning a home is a form of ‘forced savings.’ Every time you pay your mortgage, you are contributing to your net worth. Every time you pay your rent, you are contributing to your landlord’s net worth. Homeowner's steadily build wealth.

If you are interested in finding out if you could put your housing cost to work for you by purchasing a home, talk with us and we can guide you through the process.

Let's Chat

We're happy to help

We use cookies to enhance your browsing experience and deliver our services. By continuing to visit this site, you agree to our use of cookies. More info