Data from the Federal Reserve’s Survey of Consumer Finances reveals that despite homeownership losing its allure after the bust, owning a home is still a great way for a family to build wealth in the United States.
The figures from the report show that the average American family has a net worth of $81,200, and 61.4 percent of that net worth ($49,856) is in home equity. When homeowners and renters are separated, the average homeowner has a net worth of $194,500, while the average renter has a net worth of $5,400 – 36 times less than that of a homeowner.
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