Net Worth Of Homeowners 44X Greater Than Renters

Dated: 10/12/2017

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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.

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.

Colorado Springs CO Real EstateBuyers and Listings for Sale and Real Estate Services. ReAnn Kuhn Looseis your local NATIVE Real Estate Expert for Colorado Springs, Colorado, especially Old Colorado City, Manitou Springs, Fountain, Security, Widefield and surrounding areas. You now have free access to our Colorado Springs, CO Ultimate Real Estate Search Engine!   ReAnn Kuhn Loose719-330-5533

ReAnn Loose

As a native of Colorado, growing up in Colorado Springs was a privilege. I have witness the amazing changes and growth of the city since the 1960’s, the beautiful parks, shopping centers, housing de....

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