Denver Homeownership's Impact On Net Worth
It’s safe to say homeownership has lost some of its enticement as a financial investment over the past six years. As homeowners fought through the housing bust, more and more began to question whether owning a home was truly a good way to build wealth. According to a study by the Federal Reserve formally answered this question. Call Craig Adelman today at 303.809.8979.
Some of the findings revealed in their report that:
- 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