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

By The KCM Crew

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.

Every three years the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups.

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 Line

There are many reasons why owning a home makes sense, the Fed study shows that owning is still a great way for families to build wealth in America.

Contact The J Team Fort Lauderdale af Keller Williams Today for your Home Buyers Consultation.  The J Team Fort Lauderdale believes in Homeownership for all!  We educate about the home buying process, provide tips on qualifying for a mortgage and solutions to any of your Fincial issues holding you back.  Contact The J Team Fort Lauderdale today at 954.235.3589 or visit www.JTeamFL.com