The Fact
U.S. Census Bureau estimates for 2022 show median household wealth of $406,000 among homeowners when home equity is included, compared with $9,250 among renters. Even excluding home equity, homeowner median wealth was $156,700.
What This Means
Homeownership is not only a housing arrangement; for American households it is strongly tied to wealth accumulation. The gap also helps explain why losing access to affordable homeownership can affect a family's finances far beyond the monthly cost of housing.
Sources
- U.S. Census Bureau, Wealth of Households: 2022, based on the 2023 Survey of Income and Program Participation.