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

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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 $81,20

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 home-ownership is still a great way for a family to build wealth in America.

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Courtesy of KCM Blog

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