As Rental Prices Continue To Increase Is It More Affordable To Buy

As Rental Prices Continue To Increase Is It More Affordable To Buy

Most people assume that when it comes to affordability, renting is the way to go. According to a recent report, the perceived affordability is what’s keeping a solid chunk of people in the rental market.

Image title

According to the Consumer Housing Sentiment Study highlighted in CoreLogic’s most recent Home Price Insights report, 48% of renters cite “affordability” as their reason for not owning a home. But the truth of the matter is that in today’s market, renting just isn’t the more affordable option. According to the most recent Market Outlook Report from, rents rose year-over-year in a whopping 78% of counties across the US. And according to Trulia, homeownership is now more affordable than renting in 98% of the largest metro markets in the United States. 

The Takeaway

If you’ve been continuing to rent thinking it was saving money, it’s time to reevaluate the affordability of your current living situation—and see whether homeownership could actually be the more affordable option.

Liz Abrams Headshot
Phone: 757-644-3800
Dated: September 4th 2018
Views: 173
About Liz: Liz Abrams is co-founder and CEO of Abrams Realty. She and her Husband, Jim, Abrams, own and manage ...

Property Search

RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Retiring 3 Reasons Why Virginia Beach Should Be One Of Your Top Choices - Preparing for your retirement can
How To Get Your Roommate To Pay YOUR Rent - Rent isn’t cheap. It’s tough
Renting VS Buying 2019 - Owning a Home Actually Costs Less
Components Of A Home Inspection - Every home sold should have a home

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

Abrams Realty
4640 Shore Drive, Suite 113
Virginia Beach, VA