Homeownership’s Impact on Net Worth

By
Real Estate Agent with Smart Way America Realty AB067859

Homeownership’s Impact on Net Worth



Over the last six years, homeownership has lost some of its allure as a financial investment. As homeowners suffered through the housing bust, more and more began to question whether owning a home was truly a good way to build wealth. A study by the Federal Reserve formally answered this question.

Some of the findings revealed in their report:

  • The average American family has a net worth of $77,300
  • Of that net worth, 61.4% ($47,500) of it is in home equity
  • A homeowner’s net worth is over thirty times greater than that of a renter
  • The average homeowner has a net worth of $174,500 while the average net worth of a renter is $5,100

Bottom Line

The Fed study found that homeownership is still a great way for a family to build wealth in America.

What best fits your real estate goals right now - buy, sell, perhaps both? With years of area knowledge, repeat clients, trusted service and personalized guidance each step of the way, we find the solution(s) customized to your needs - growing family space, single or multi-generational residence, remote workplace, relocation, retirement, vacation or investment. 

Your Home Sweet Home is waiting. Contact Kris Collis now, your Trusted Pro in the Poconos for professional results you expect.

Courtesy:  KCM

Posted by

Your Trusted Pro in the Poconos, Professional Results You Expect 

Kris Collis, Associate Broker

Smart Way America Realty

East Stroudsburg, PA 18301

Client Endorsements

570-801-5525

buysellpocono@gmail.com

Comments (1)

Joyce Marsh
Joyce Marsh Real Estate LLC - Port Orange, FL
Joyce Marsh Real Estate LLC - Coast & Luxury

One of the best ways to build wealth is through real estate. Enjoyed reading your post. Thank you.

Jan 17, 2022 12:36 AM