Homeowners Have Significantly Higher Net Worth Than Renters Across All Age Groups
According to the Federal Reserve's Survey of Consumer Finances (SCF), homeowners consistently have a much higher median net worth than renters across all age groups. In 2022, the median net worth for homeowner households was $396,500 compared to just $10,410 for renter households—a nearly 38-to-1 ratio. This gap has widened since 2019 as home prices have surged while renters' wealth remained stagnant. Homeownership rates increase with age and are closely tied to higher net worth. For example, median homeowner net worth rises from $151,000 for those under 35 to over $500,000 by the time individuals reach their late fifties or early sixties. In contrast, renters' median net worth remains near $10,000 across all age groups and shows little growth with time. The data highlights how homeownership contributes significantly to long-term wealth accumulation due to equity building through mortgage payments and home price appreciation over the years.
Topics: Federal Reserve data homeownership net worth wealth inequality