Homeowners net worth 41 times greater than renters
By HousingWire.com
Tuesday, November 16th, 2010, 5:30 pm
The average homeowner has a net worth that is about 41 times greater than that of a renter, according to a report from the National Association of Realtors.
Homeowners' net worth averaged between $150,000 and $200,000 this year, according to NAR. The trade group for Realtors said homeowner equity accounts for a substantial part of that net worth.
NAR based its research on results from a 2007 Federal Reserve Survey that provides a snapshot of family income and net worth in conjunction with basic demographic makeup. The Fed survey is conducted once every three years. A 2010 survey has not yet been released.
Homeowner net worth back in 2007 was 46 times greater than that of renters, reflecting the economic conditions before housing price declines and a decreasing equities market. The average net worth of a homeowner was above $200,000, while the average net worth of a renter in 2007 was $5,000. (Click on chart to expand.)
Write to Christine Ricciardi.
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