US Renters Have Less Than 3 Percent Of The Wealth Of Homeowners

MIAMI, FLORIDA - SEPTEMBER 29: In an aerial view, the City of Miami skyline, where many renters reside in the apartment buildings on September 29, 2021 in Miami, Florida. (Credit: Joe Raedle/Getty Images)

In 2022, renters in the United States had less than three percent of the wealth of homeowners, with a median net worth of $10,400 compared to nearly $400,000 for homeowners.

The wealth gap is not solely due to home equity according to a new Aspen Institute report. Modern day homeowners are financially savvy, accumulating their wealth through other assets like stocks and business equity.