Lawrence Yun, chief economist for the National Association of REALTORS ®, predicts the figure to jump to $ 225,000 to $ 230,000 in
median net worth for home owners in 2016 and around $ 5,000 for renters.
Homeownership is a key driver of wealth accumulation for millions of families, with
the median net worth for homeowners standing at $ 200,000 versus just over $ 5,000 for renters.
We also found out that
the median net worth for 2010 plunged to $ 77,300 from a high of $ 126,400 in 2007.
For example,
the median net worth for a person age 70 to 74 years drops to $ 31,823 from $ 181,078 when home equity is excluded.»
Median net worth for those in the second lowest quintile of incomes — which in 2013 meant incomes from $ 23,300 to $ 40,499 — dropped by more than half.
Median net worth for all families, measured in 2016 dollars, dropped 8 % since 1998.
Not exact matches
The
median net worth of the nation's homeowners in 2013 was $ 195,400, compared with $ 5,400
for those who don't own, according to a Federal Reserve Board survey.
Indeed, the Center
for Economic and Policy Research says the
median net worth of near - retirees — those ages 55 to 64 — was $ 165,700 in 2013, down from $ 177,600 in 1989.
The
median net worth was $ 1,008,767
for all members of Congress.
The only reason the
median didn't fall more was because
net worth for the top 10 %, those with 2013 incomes over $ 154,600, rose nearly 75 %.
Our inability to save has contributed to a 21 % decline in household
median net worth between 1998, the year
median incomes peaked in America, and 2013, the last year
for which Fed stats are available.
Median net worth has declined steeply in the past generation — down 85.3 percent from 1983 to 2013
for the bottom income quintile, down 63.5 percent
for the second - lowest quintile, and down 25.8 percent
for the third, or middle, quintile.
It shows that, since 2007 through 2016, U.S.
median household
net worth declined between 2007 and 2016
for all income groups except the top 10 %.
Research by financial experts also say that large student loan payments can significantly hurt a young adult's ability to begin to accumulate wealth: «The
median 2009
net worth for a household without outstanding student debt was $ 117,700, nearly three times the $ 42,800
worth in a household with outstanding student debt.»
Average parental
net worth was nearly four times higher
for whites ($ 174,841) than
for blacks ($ 48,494); differences were even more extreme
for median net worth ($ 101,376 vs. $ 9,497).
For reference, the
median of millennial
net worth is $ 10,400.
Households in which a man is the primary earner have
net worths that are $ 36,000 above the overall
median for all households of all typesof $ 170,000.
Though the
median income
for college educated households is $ 57,941, the
median net worth of households with no student loan debt is $ 64,700, or more than seven times higher than households with student loan debt, whose
net worth is a paltry $ 8,700.
Before you dismiss that gap as a product of the housing boom, consider that in 1998, prior to the real estate market heating up, home owning families»
median net worth was $ 168,200, while
net worth for renters was just $ 5,400.
His book, «Set
for Life» (published through BiggerPockets Publishing) thoroughly details a step - by - step journey to early financial freedom
for full - time workers earning
median incomes and starting with little or negative
net worth.