Buying a Home Is Cheaper Than Renting in the Majority of the US
The results of the2018 Rental Affordability ReportfromATTOM show that buying a median-priced home is more affordable than renting a three-bedroom property in 54% of U.S. counties analyzed for the report.
The updated numbers show that renting a three-bedroom property in the United States requires an average of 38.8% of income.
The least affordable market for renting was Marin County, CA, just over the Golden Gate Bridge from San Francisco, where renters spend a staggering79.5% of average wageson rent, while the most affordable market was Madison County, AL where22.3% of average wageswent to rent.
Other interesting findings in the report include:
Average rent rose faster than income in 60% of counties
Average rent rose faster than median home prices in 41% of counties
While median home prices rose faster than average rents in 58% of counties
Buying a home makes sense socially and financially. If you are one of the many renters out there who would like to evaluate your ability to buy this year, let’s get together to find your dream home.
Call me directly at 904-403-6362. I can help if you let me.
Cheers to your success.
Author:Robert Herbert Phone: 904-403-6362 Dated: May 1st 2018 Views: 798 About Robert: Any Realtor can help you sell a house! No seriously, there are thousands of Agents in our market, ri...
What is a "full-service" real estate brokerage team? - That means we do everything possible to get a house sold! We are technology experts, copywriters, and marketing team—we've got you covered. A deep rooted tradition of personal touch business, but we‘re truly modernist at heart. With a commitment to everything forward thinking, fast moving and results oriented, we treat every client and their property, with enthusiasm and care. We steadily hold ourselves to the highest of standards – you can too.
Thank you for stopping by, we are looking forward to adding value to all of your real estate needs!
How Much Do You Need to Make to Buy a Home?It’s no mystery that cost
"Julia is awesome, she always went that extra mile. She is extremely versatile, personable, and so in tune with each and every item i had on my wish list. She was so patient... ( Im very picky) She is a true pleasure to work with. I couldn't be happier... I highly recommend her. My home is in good hands, and I not only am comfortable with my decision, I've also made a great friend."