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For The Love of People and Real Estate
  • About
    • The Beck Team
    • The Code of Ethics: 100 Years of Professionalism
  • All in, for you
  • Blog
  • COVID-19 Resources and Information
  • Podcast – Missoula Real Estate Today
  • Testimonials
  • Seller Resources
    • Seller’s Guide Spring 2020
    • Know the Value of Your Home
    • Marketing Your Property
  • Buyer Resources
    • Buyer’s Guide – Spring 2020
    • Community Resources
  • Missoula Neighborhoods
  • Real Estate by The Beck Team
  • Home
  • Your guide to all things Missoula!
  • Make It Missoula
  • We’re open for business!
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For The Love of People and Real Estate
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Homeowner’s Net Worth Is 45x Greater Than A Renter’s

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Diane Beck,12/27/2016

Every three years, the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400).

In a Forbes article, the National Association of Realtors’ (NAR) Chief Economist Lawrence Yun predicts that by the end of 2016, the net worth gap will widen even further to 45 times greater.

The graph below demonstrates the results of the last two Federal Reserve studies and Yun’s prediction:

Homeowner’s Net Worth Is 45x Greater Than a Renter’s | MyKCM

Put Your Housing Cost to Work for You

As we’ve said before, simply put, home ownership is a form of ‘forced savings.’ Every time you pay your mortgage, you are contributing to your net worth. Every time you pay your rent, you are contributing to your landlord’s net worth.

The latest National Housing Pulse Survey from NAR reveals that 85% of consumers believe that purchasing a home is a good financial decision. Yun comments:

“Though there will always be discussion about whether to buy or rent, or whether the stock market offers a bigger return than real estate, the reality is that homeowners steadily build wealth. The simplest math shouldn’t be overlooked.”

Bottom Line

If you are interested in finding out if you could put your housing cost to work for you by purchasing a home, let’s get together and evaluate your ability to buy today!

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2800 South Reserve St.Missoula
MT 59801
406.360.7654
dianebeck@realtor.com

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