The Blog

Report Finds that a Homeowner’s Net Worth is 36 Times Greater Than Renters

Categories: Buying a Home, New vs Used, Renting a Home | Posted: August 14, 2017

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, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400). 

Put Your Housing Cost to Work for You

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. Every time you pay your rent, you are contributing to your landlord’s net worth.

The latest National Housing Pulse Survey from NAR reveals that 84% of consumers believe that purchasing a home is a good financial decision. William E. Brown comments:

“Despite the growing concern over affordable housing, this survey makes it clear that a strong majority still believe in homeownership and aspire to own a home of their own. Building equity, wanting a stable and safe environment, and having the freedom to choose their neighborhood remain the top reasons to own a home. 

Bottom Line

If you are interested in finding out if you could put your housing cost to work for you by purchasing a home, call Kristy, our Online Sales Counselor, who can put you in touch with a Grant Sales Professional who will guide you through the process of buying a new home.

(This article was reprinted from Keeping Current Matters at https://www.keepingcurrentmatters.com/2017/08/14/homeowners-net-worth-is-still-greater-than-a-renters/?utm_campaign=Blog_Promo&utm_medium=email&utm_source=email-automated&utm_content=DailyBlogSubscription&utm_term=BlogPost)

Grant & Co.

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