The Big Difference Between Renter and Homeowner Net Worth

<article class="post-1269430 post type-post status-publish format-standard has-post-thumbnail hentry" id="post-1269430"><span class="entry-date">November 15, 2024</span><div class="entry-header center-block text-center"><h1 class="entry-title">The Big Difference Between Renter and Homeowner Net Worth</h1><div class="shareBlock"><div class="shareTitle">Share</div><div class="shareIcons"><a aria-label="Twitter Share Link" class="twitter solid display-inline-block" data-tracking="Post,Social Post Link Clicked,Twitter" href="http://twitter.com/share?text=The+Big+Difference+Between+Renter+and+Homeowner+Net+Worth&amp;url=https%3A%2F%2Fgilliggroup.com%2Fblog%2Fthe-big-difference-between-renter-and-homeowner-net-worth%2F" target="_blank"><span class="force-hidden">Twitter</span></a>
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</div></div><div class="post-tax post-category"><span></span><a href="../category/realtor-blog/index.html" rel="tag">Realtor Blog</a></div><div class="post-tax post-post_tag"></div></div><div class="entry-content"><div><img alt="The Big Difference Between Renter and Homeowner Net Worth Simplifying The Market" decoding="async" loading="lazy" src="https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20241113/20241115-The-Difference-Between-Renter-And-Homebuyer-Net-Worth-KCM-Share-original.jpg" style="display: block; margin-bottom: 5px; clear: both; max-width: 100%;" width=""/>
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<h3>Some Highlights</h3>
<ul>
<li>If you’re torn between renting or buying, don’t forget to factor in the <a href="https://www.simplifyingthemarket.com/2024/11/07/renting-vs-buying-the-net-worth-gap-you-need-to-see/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">wealth-building</a> power of <a href="https://nationalmortgageprofessional.com/news/homeowners-gain-equity-renters-lose-wealth" rel="noopener noreferrer" target="_blank">homeownership</a>.</li>
<li>Unlike renters, homeowners gain equity as they pay their mortgage and as home values rise. That’s why, on average, a homeowner’s net worth is nearly <a href="https://www.federalreserve.gov/publications/files/scf23.pdf" rel="noopener noreferrer" target="_blank">40x higher</a> than a renter’s. </li>
<li>Connect with an agent if you want to learn more about the financial benefits of homeownership or the programs that can help make buying possible.</li>
</ul>
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