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.

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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 Realtor.com, 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.


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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 ...

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