[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f247up1o9pbxq9":3,"$ffeh0925h8cuz":51,"$fbwk2pqjjqsc7":55},{"item":4,"previous":39,"next":45},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":14,"isInfographic":15,"categories":16,"isVideo":15,"videoThumbnail":9,"videoSource":9,"publishedAt":37,"updatedAt":38},1230,"homeowners-aged-65-have-48x-more-net-worth-than-renters","Homeowners Aged 65+ Have 48x More Net Worth Than Renters","Every three years, the \u003Cem>Federal Reserve\u003C\u002Fem> conducts their \u003Cem>Survey of Consumer Finances\u003C\u002Fem> in which they collect data across all economic and social groups. Their latest survey data covers responses from 2013-2016.","","blog","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2018\u002F11\u002F28150734\u002F20181204-Share-STM.jpg","Every three years, the \u003Cem>Federal Reserve\u003C\u002Fem> conducts their \u003Cem>Survey of Consumer Finances\u003C\u002Fem> in which they collect data across all economic and social groups. Their latest survey data covers responses from 2013-2016.\u003C!--more-->\r\n\r\nThe study revealed that the median net worth of a homeowner was $231,400 – a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013).\r\n\r\nThese numbers reveal that the net worth of a homeowner is over \u003Cstrong>44 times greater\u003C\u002Fstrong> than that of a renter.\r\n\r\nThere are many who see that statistic and point toward how broad the range of respondents are for the \u003Cem>Federal Reserve\u003C\u002Fem> survey. Their study includes all economic and social groups and also includes all age groups. The argument is that older respondents have a higher likelihood of being homeowners, while the homeownership rate among younger survey takers is much lower.\r\n\r\nRecently, the \u003Cem>Joint Center for Housing Studies\u003C\u002Fem> at \u003Cem>Harvard University\u003C\u002Fem> focused on homeowners and renters over the age of 65. Their \u003Ca href=\"http:\u002F\u002Fwww.jchs.harvard.edu\u002Fhousing-americas-older-adults-2018\">study\u003C\u002Fa> revealed that the difference in net worth between homeowners and renters at this age group was actually \u003Cstrong>47.5 times greater!\u003C\u002Fstrong>\r\n\r\n\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2018\u002F11\u002F20181204-STM-ENG1.jpeg\">\u003Cimg class=\"alignnone wp-image-38514\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2018\u002F11\u002F20181204-STM-ENG1.jpeg\" alt=\"Homeowners Aged 65+ Have 48x More Net Worth Than Renters | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>\r\n\r\nHomeowners over the age of 65 are much more financially prepared for retirement and often own their homes outright if they were fortunate enough to purchase their homes before the age of 36. Their 30 years of mortgage payments have paid off as they gained equity through their monthly payments and as home values appreciated.\r\n\r\nIt is no surprise that lifelong-renters have had a hard time accruing net worth as the latest \u003Cem>Census\u003C\u002Fem> \u003Ca href=\"http:\u002F\u002Fwww.census.gov\u002Fhousing\u002Fhvs\u002Ffiles\u002Fcurrenthvspress.pdf\">report\u003C\u002Fa> shows that the \u003Cem>Median Asking Rent\u003C\u002Fem> has been climbing consistently over the last 30 years.\r\n\r\n\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2018\u002F11\u002F20181204-STM-ENG2.jpeg\">\u003Cimg class=\"alignnone wp-image-38515\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2018\u002F11\u002F20181204-STM-ENG2.jpeg\" alt=\"Homeowners Aged 65+ Have 48x More Net Worth Than Renters | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nAs a homeowner you put your monthly mortgage payment to work for you, building your net worth with every payment.","\r\nAs a homeowner you put your monthly mortgage payment to work for you, building your net worth with every payment.","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2018\u002F11\u002F20181204-STM-ENG1.jpeg",false,[17,21,25,29,33],{"id":18,"name":19,"slug":20},5,"For Buyers","buyers",{"id":22,"name":23,"slug":24},11,"First-Time Buyers","first-time-buyers",{"id":26,"name":27,"slug":28},34,"Senior Market","senior-market",{"id":30,"name":31,"slug":32},38,"Move-Up","move-up",{"id":34,"name":35,"slug":36},53,"Rent vs. Buy","rent-vs-buy","2018-12-04T10:00:16Z","2018-11-29T18:03:45Z",{"id":40,"slug":41,"title":42,"featuredImage":43,"publishedAt":44,"contentType":10,"isVideo":15},1229,"4-reasons-to-buy-a-home-this-winter-2","4 Reasons to Buy A Home This Winter!","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2018\u002F11\u002F28144959\u002F20181203-Share-STM.jpg","2018-12-03T10:00:15Z",{"id":46,"slug":47,"title":48,"featuredImage":49,"publishedAt":50,"contentType":10,"isVideo":15},1231,"where-are-interest-rates-headed-in-2019","Where Are Interest Rates Headed in 2019?","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2018\u002F12\u002F03125208\u002F20181205-Share-STM.jpg","2018-12-05T10:00:43Z",{"cover":52,"open":53,"shareSpread":54},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Magazine-original.png",[56,60,61,65,69,73,77,78,79,83,84,88,92,96,100,101,105,109,113,117,121,125,129,133,137,141,145,149,153,157],{"id":57,"name":58,"slug":59},1,"Uncategorized","uncategorized",{"id":18,"name":19,"slug":20},{"id":62,"name":63,"slug":64},6,"For Sellers","sellers",{"id":66,"name":67,"slug":68},7,"Foreclosures","foreclosures",{"id":70,"name":71,"slug":72},8,"Infographics","infographics",{"id":74,"name":75,"slug":76},9,"Home Prices","home-prices",{"id":22,"name":23,"slug":24},{"id":26,"name":27,"slug":28},{"id":80,"name":81,"slug":82},35,"Mortgage Rates","mortgage-rates",{"id":30,"name":31,"slug":32},{"id":85,"name":86,"slug":87},41,"For Sale by Owner","for-sale-by-owner",{"id":89,"name":90,"slug":91},42,"Featured","featured",{"id":93,"name":94,"slug":95},45,"New Construction","new-construction",{"id":97,"name":98,"slug":99},52,"Luxury \u002F Vacation","luxury--vacation",{"id":34,"name":35,"slug":36},{"id":102,"name":103,"slug":104},80,"Time-sensitive","time-sensitive",{"id":106,"name":107,"slug":108},81,"Outdated","outdated",{"id":110,"name":111,"slug":112},147,"Internal","internal",{"id":114,"name":115,"slug":116},148,"Do Not Autopost","do-not-autopost",{"id":118,"name":119,"slug":120},320,"Inventory","inventory",{"id":122,"name":123,"slug":124},321,"Agent Value","agent-value",{"id":126,"name":127,"slug":128},322,"Affordability","affordability",{"id":130,"name":131,"slug":132},323,"Buying Tips","buying-tips",{"id":134,"name":135,"slug":136},324,"Downsize","downsize",{"id":138,"name":139,"slug":140},325,"Economy","economy",{"id":142,"name":143,"slug":144},326,"Equity","equity",{"id":146,"name":147,"slug":148},327,"Forecasts","forecasts",{"id":150,"name":151,"slug":152},328,"Selling Tips","selling-tips",{"id":154,"name":155,"slug":156},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":158,"name":159,"slug":160},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]