Impact Your Net Worth With Home Ownership

Impact Your Net Worth With Home Ownership

Over the last six years, home ownership 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. A study by the Federal Reserve formally answered this question.
Some of the findings in their report are listed below.

  • The average American family has a net worth of $77,300
  • Of that net worth, 61.4% ($47,500) of it is in home equity
  • A homeowner’s net worth is over thirty times greater than that of a renter
  • The average homeowner has a net worth of $174,500 while the average net worth of a renter is $5,100


Ann Marie Cancro Headshot
Author:
Phone: 717-468-1301
Dated: August 15th 2014
Views: 371
About Ann Marie: LICENSED: Licensed Real Estate Professional since October 1990. AFFFILIATIONS: Lancaster Assoc. o...

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