The Net Worth Of A Homeowner Is 44x Greater Than A Renter

Dated: August 21 2018

Views: 55

Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. Their latest survey data, covering 2013-2016 was recently released.

The study revealed that the median net worth of a homeowner 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 fifth 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.


If you are looking to buy or sell your home, please contact Tricia Glover and The Glover Team at 540-846-0185.

Blog author image

Tricia Glover

As an agent who's an expert in this local area, I bring wealth of knowledge and expertise about buying and selling real estate in the Northern Virginia Area. It's not the same everywhere, so you need....

Latest Blog Posts

Should I Wait For Lower Mortgage Interest Rates

Should I Wait for Lower Mortgage Interest Rates? #thegloverteamHistorically low mortgage rates are a big motivator for homebuyers right now. In 2020 alone, rates hit new record-lows 16

Read More

Things To Avoid After Applying For A Mortgage

Things to Avoid after Applying for a Mortgage #thegloverteam #tuesdaytipSome Highlights There are a few key things to make sure you avoid after applying for a mortgage to help make sure

Read More

What Homebuyers Really Want

What Homebuyers Really WantWhen looking for a home, buyers often narrow their choices by determining wants vs. needs. As your local real estate professional, I thought you'd be interested in this

Read More

Perfect Cauliflower Pizza Crust

The perfect trick to enjoy the treat without the guilt!!! #thegloverteamRecipe from food.comINGREDIENTS4 cups raw cauliflower, riced or 1 medium cauliflower head 1 egg, beaten

Read More