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

Warren Buffett loves HomeServices of America

The Omaha tycoon referenced more acquisitions for the brokerage firm over the next 10 years In Warren Buffett’s 2016 investor letter released this past weekend, the folksy tycoon called out HomeServices of America (HSA) and said to expect more acquisitions. The company had $225 million in earnings las...

Clark County 3rd in nation for population gain

You might have noticed some unfamiliar faces around town recently. Clark County welcomed 46,375 new residents — an average of 127 per day — between July 1, 2015, and July 1, 2016, according to annual population estimates released Thursday by the U.S. Census Bureau. Only Maricopa County, Arizona, and Harri...

Did You Miss These Tax Deductions?

One of my favorite things to do each year, is to park outside the Post Office on April 15th and watch the parade of cars as last minute procrastinators get in line to post their taxes before the deadline. Miraculously, everyone seems to be in a pretty good mood - after all, we are all in this tax thing together. Jokes...

Here's What a Mediocre Credit Score Might Cost You on Your Mortgage

A lackluster credit score could bring up your interest rate and set the stage for years of higher payments. But if you work on improving your score, you'll end up paying less for your home loan. Many of us don't pay attention to our credit scores until the time comes to borrow money. But what you may not kno...

Mortgage Rates Move Up for First Time in 2017

  Following several weeks of decreases, mortgage rates were back on the rise this week. "The 10-year Treasury yield increased more than 10 basis points this week,” says Sean Becketti, Freddie Mac’s chief economist. “The 30-year mortgage rate moved up as well to 4.19 percent, a 10 basis point ju...

Leave a Comment

Have a Question?

Contact Us

Follow Us