Connecticut Valley Homes

Connecticut Valley Homes

Tuesday, September 30, 2014

Renter's Net Worth 36 Times Less than Homeowner's

Homeownership remains a great way to grow wealth in America. This may not seem possible, especially with the crash of the housing market, but The Federal Reserve states that homeowner's have a much higher net worth than renters. Again, this may seem shocking when reflecting on the housing market of the past decade.

The Federal Reserve reports that the average renter has a net worth of $5,400, while the average homeowner is valued at $194,500. Crazy difference, right? This means that a homeowner's net worth is over 36 times greater than that of a renter! In addition, the average American family stands for a net worth of $81,200, while $49,856 of the whole represents home equity. That's 61.4% of the average American family's net worth - a generous chunk.

Long story short, investing in real estate is still an opportune way for individuals and families to become more financially sound.

Interested in exploring your options further and increasing your net worth? Contact Connecticut Valley Homes, custom modular home builder, to find out more information.

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