Net Worth Of Homeowners 44X Greater Than Renters

Dated: 10/16/2017

Views: 526

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, let’s get together to discuss the process.


Learn More



Blog author image

Vince Caropreso

Being the CEO and Team Leader of Team Caropreso, Vince specializes in Listings, Marketing, REO/Foreclosures,Short Sales and working with Investors. With 18 years of experience and selling over 700 hom....

Latest Blog Posts

What Is A Buyers Agent

What Is a Buyer's Agent? Ready to house hunt? It can be a jungle out there: Prepare for a flurry of paperwork, stampedes of buyers competing for the same digs, and other

Read More

What To Expect From A Listing Agent

What role does a listing agent play?A listing agent's job is to help direct the seller in preparing the house for sale, market the property to buyer's agents, and handle the offer and

Read More

ARE YOU REPRESENTED

ARE YOU REPRESENTED?HISTORYDid you know that not until 1999, real estate agents generally worked for home sellers.  Agents would assist sellers in finding qualified buyers for their property.

Read More

Demand For Homes To Buy Continues To Climb

Demand for Homes to Buy Continues to ClimbAcross the United States, there is a severe mismatch between the low number of houses for sale and the high demand for those houses! First-time homebuyers

Read More