Social Links Widget

Click here to edit the Social Media Links settings. This text will not be visible on the front end.

Real Estate • Rental • Rentals • February 28, 2024

Net Worth – Renters vs. Homeowners

by Amy Tadlock

Homeownership can have a HUGE impact on Net Worth and Wealth.

The Federal Reserve found that in 2019, homeowners had 40x MORE net worth than Renters.

Homeowners median net worth, $255,000 vs. Renters median net worth, $6,300

A mortgage can act as a mandatory savings account that builds equity over time, but rent has no return on investment.  Add in the appreciation in value of your home and you have a formula for generating wealth.

https://www.cnbc.com/select/average-net-worth-homeowners-renters/

 

Related Articles
Loan The City of Chula Vista is providing a silent second loan up to $120,000 to be used toward down payment and closing costs. The City of Chula Vista is providing a silent second loan up to $120,000 to be used toward down payment and closing costs. -No property ownership within the past three years -Home must be Primary Residence -Must be U.S citizen or eligible resident -Minimum credit score of 640 -Must contribute a minimum of 3% of […]
Real Estate Growing Wealth The San Diego Union-Tribute interviewed local experts on “Building Wealth in 2024”.  The experts, Dick Pfister and Danny Michael, had the following advice: Concerned about capital gains? Consider a 1031/721 exchange allowing you to exchange your “existing real estate for ownership in a large institutionally managed Real Estate Investment Trust (REIT).” Need to complete a […]
Real Estate Home Sales expected to soar in these California cities in 2024 Why these location? Movement out of.. Oxnard/Thousand Oaks, &  San Bernadino/Riverside/Oxnard      Sacramento Movement to…      San Diego/Chula Vista/Carlsbad for Desirability & Value! For more information visit https://ktla.com/news/california/home-sales-are-expected-to-soar-next-year-in-these-california-cities/
Home
Properties
About Me
Blog
Neighborhood News
eho-89x83.png
realtor_white-71x83.png

Terms Of Use | Privacy Policy | Accessibility Statement | Fair Housing Notice

© 2022 MoxiWorks

©2022 Better Homes and Gardens Real Estate LLC. All rights reserved. Better Homes and Gardens® and the Better Homes and Gardens Real Estate logo are registered service marks owned by Meredith Operations Corporation and licensed to Better Homes and Gardens Real Estate LLC. Better Homes and Gardens Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each franchise is independently owned and operated. Listing information is deemed reliable but is not guaranteed accurate.