Homes are a great source of wealth in the U.S —a point that was recently underscored by several studies.
The Federal Reserve recently estimated that Americans own “about $28.4 trillion worth of housing,” as reported by Real Estate Insider.
Colorado ranks high in that equation. Online banker Lending Tree recently examined real estate wealth at the community level. “In Colorado, two Front Range cities are among the richest in residential value. Denver ranks No. 17 with $374 billion in total value” (with the median home value at $391,000). “The Boulder-Longmont metro area ranks No. 48, with $88 billion in residential value” (with a median home value of $459,000), according to Real Estate Insider.
In short, the wealth we have built through our homes is substantial, making up over one-fifth of America’s $100 trillion net worth.