It pays to own a home


It pays to own a home

It pays to own a home


WASHINGTON – Sept. 10, 2014 – Homeowners are building net worth at a pace up to four times faster than renters.

In the past 15 years, the net worth of a typical homeowner has ranged between 31 and 46 times that of the typical renter, according to the Federal Reserve's Survey of Consumer Finances, which is based on 2013 data.

On average, homeowners had nearly $200,000 in net worth compared to the average $5,000 net worth of renters, according to the survey.

"Homeowner equity is a substantial component of homeowner wealth," says Danielle Hale, research economist at the National Association of Realtors® on the association's Economists' Outlook blog.

Source: "Net Worth of Home Owners vs. Renters," National Association of Realtors® Economists' Outlook Blog (Sept. 8, 2014)

© Copyright 2014 INFORMATION, INC. Bethesda, MD (301) 215-4688

Ready to live the Florida Dream? Contact me or call (239) 851-3861 to get started!

Serving Southwest Florida including Collier and Lee Counties, Cape Coral, Fort Myers, Fort Myers Beach, Alva, North Fort Myers, Estero, Bonita Springs, Naples, Vanderbilt, Sanibel, and Captiva.