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Average Income/Wealth by Age Group, Reports

September 27th, 2017

AfricanAmericanSeniorsDailyBusinessNewsMHProNewsMost manufactured housing industry professionals that deal directly with the public for a year or more instinctively know that the older a person gets, the higher their income and net worth tends to be.

Recent research reported by the Washington Post and Business Insider verify those instincts.

The charts below provide an interesting context to a statement made by HUD Secretary, Dr. Ben Carson, when he said that home owners have an average net worth of some $200,000, while renters have an typical net worth of only $5,000.

AssetsMedianValueAmericansbyAge2017BusinessInsiderDailyBusinessnewsMHProNews

Part of the reason is age.

WashingtonPostAssetsByAgeUSDailyBusinessNewsMHProNews

The younger the age group, the less likely they are to be a home owner.

QuintileAssetsMedianValueAmericansbyAge2017BusinessInsiderDailyBusinessnewsMHProNews


The older an American gets, the higher the likelihood that they will be a home owner, and the higher their net worth tends to be.  ## (News, analysis.)

(Image credits are as shown above, and when provided by third parties, are shared under fair use guidelines.)

SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.


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