When it comes to building long-term wealth, the homeowner and renter net worth gap is staggering. According to the Federal Reserve, the average homeowner has a net worth of about $396,500, while the average renter’s net worth is just $10,400.
Why is the difference so massive? Every mortgage payment a homeowner makes builds equity—essentially, their wealth. And as the value of the home appreciates over time, that equity grows. Renters, on the other hand, are paying into someone else’s investment: their landlord’s.
While renting can seem like a more flexible or affordable option in the short term, it often comes with long-term financial trade-offs. The equity and generational wealth that homeownership can create simply aren’t available through renting.
If you’re unsure whether buying is right for you now, that’s okay. You don’t need to buy today to start planning for tomorrow. With the right guidance, you can take small steps toward becoming a homeowner—and building real wealth for your future.
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