Get free access to our world class MLS search tools, save your favorite listings, create saved searches & much more!

Net worth of homeowners 44 times more than renters

Posted by Mastura Zaini-Roberts on Monday, August 20th, 2018 at 2:48pm.

networth of homeowners

   First Time Home BuyersFor BuyersMove-Up BuyersRent vs. Buy

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.

Credit: http://www.simplifyingthemarket.com/en/2018/08/20/the-net-worth-of-a-homeowner-is-44x-greater-than-a-renter/

 

Mastura Roberts
(702) 919-5400
offers@greatlasvegashomes.com

Team Leader, The Tonnesen Team
Berkshire Hathaway HomeServices, Nevada
3185 St Rose Pkwy #100 Henderson, NV 89052

With over 30 years of experience helping families call Las Vegas "home!"



Related Blog Posts

Las Vegas Home for Sale - 170 East Eldorado Lane

  This fabulous single story Las Vegas home in the Southern part of Las Vegas Nevada has an open floor plan, Santa Fe style, on nearly ½ acre of land. It is centrally located in Las Vegas and provides easy access to many amenities. This pool and spa home for sale in Las Vegas&...

Tonnesen Team Ranked #2 In Las Vegas for Real Estate in 2012!

Each year the Las Vegas Business Press ranks various businesses by category for the tops in their field. We are proud and pleased to announce that in 2012, The Tonnesen Team of Prudential Americana Group Realtors ranked #2 for the entire Las Vegas Valley in residential real estate for gross sales volume, closing 260...

Flip This House aka Empty Your Wallet

Over the past month, the Las Vegas real estate market has been literally flooded with would-be flippers,  making up to 30 bids each per week.  They are offering anywhere between 70 to 80 cents on the dollar on homes listed for sale around the Valley, hoping to get just one offer accepted so they can get started on th...

It's a Buyers Market - Las Vegas Real Estate Advantages

It's A Buyers Market In Las Vegas   Real estate is one of the most prosperous investment avenues where you can expect your money to grow. The real estate market is supposed to boom in Las Vegas as with each passing day the demand for homes is growing. It is important for you to know the right approach to a buyer...

Just Sold 59 Garibaldi Way Henderson, Nevada 89011

Wei Chen-Goldman, one of the very experienced agents on the #1 Tonnesen Team at Berkshire Hathaway HomeServices Nevada Properties has closed on another beautiful Las Vegas home in the desirable area of Lake Las Vegas. A very happy couple with 3 children from Minnesota purchased for their future retirement home. The...

Leave a Comment

Have a Question?

Contact Us

Follow Us