Over the last six years, homeownership has lost some of its allure as a financial investment. A recent study by the Federal Reserve found that homeownership is still a great way for a family to build wealth in America. The average net worth of a renter is approximately $5000. Can you guess how much the net worth of an average homeowner is?
The average homeowner has a net worth of $174,500, over 30 times greater than that of a renter.