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2014-09-22 10:41:58
Net Worth of Homeowners vs Renters
  • In the past 15 years, the net worth of the typical homeowner has ranged between 31 and 46 times that of the net worth of the typical renter.
  • Homeowner equity is a substantial component of homeowner wealth. The Federal Reserve’s Survey of Consumer Finances, conducted once every three years, provides a snapshot of family income and net worth along with basic demographic details and more detailed information on where families keep the wealth they have accumulated.
  • The most recent survey, conducted in 2013, offers a picture of the situation as home and equity prices normalized for most household balance sheets.
  • Data shows that median homeowners had nearly $200,000 in net worth or 36 times that of the median renter who had just over $5,000. The median value of owners’ homes was $170,000.
  • Many households own a primary residence (65.2 percent). It is the most commonly held non-financial assets after vehicles (86.3 percent).

 

Danielle Hale, Director of Housing Statistics

As a Research Economist at NAR, Danielle studies tax issues, the wealth impact of home ownership, and different measures of home prices.

 
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