If you need assistance, please call 520-247-8250

The Net Worth of a Homeowner is 44x Greater Than A Renter!

Monday, August 20, 2018   /   by Traci Roberts Jones

The Net Worth of a Homeowner is 44x Greater Than A Renter!




The Net Worth of a Homeowner is 44x Greater Than A Renter! | MyKCM


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.


Keller Williams Southern Arizona - Jones Real Estate Team
Traci Roberts-Jones
10445 N. Oracle Rd., Ste. 220
Oro Valley, AZ 85737
520-247-8250


Nova Home Loans
Ian Brannon
3430 E. Sunrise Dr. Suite 150
Tucson, AZ 85718
520-837-9949
NMLS#205989

The data relating to real estate listings on this website comes in part from the Internet Data Exchange (IDX) program of Multiple Listing Service of Southern Arizona. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listings provided by brokerages other than Keller Williams Southern Arizona are identified with the MLSSAZ IDX Logo. All Information Is Deemed Reliable But Is Not Guaranteed Accurate. Listing information Copyright 2019 MLS of Southern Arizona. All Rights Reserved.