The results of the 2018 Rental Affordability Report from ATTOM 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 staggering 79.5% of average wages on rent, while the most affordable market was Madison County, AL where 22.3% of average wages went 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
Bottom Line
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.
Powered by WPeMatico
Thinking of selling your home?
Request a free SOLD Seller’s Guide
in the mail – request it at: https://tnrealestatelistings.com/sellers
Thinking of buying a home?
Request a free Buyer’s Guide at: https://tnrealestatelistings.com/buyers
Realtor Since 2003 – Renee offers old fashioned customer service, using leading edge technology.
Specialties:
Listing Agent
Buyer’s Agent (♥ 1st Time Home Buyers & Relocation )
New Construction
Call me! I’m at your service!!
Renee Harrington | Realtor
Aspire Realty LLC| 615-212-5076 Office
Facebook:https://www.facebook.com/TNRealtorRenee/
Instagram: https://www.instagram.com/TNRealtorRenee/
Search Current MLS Listings and setup auto notifications
to receive new listings within an hour of hitting the market on my
website at: https://tnrealestatelistings.com/property-search/
#lovewhereyoulive #tnrealtorrenee #tnrealestatelistings.com #reneeharrington #soldrenee #realtor #wanttomove #relocating #relo #firsttimehomebuyer #househunting #newhome #realestate #homesearch #dreamhome #dreamhouse #beautifulhomes #realestateforsale #newconstruction #newhomes #homesforsale #homesale #home #housing #listing #forsale #location #locationlocationlocation #northofnashville #robertsoncounty #springfieldtn #crossplainstn #whitehousetn #orlindatn #portlandtn #greenbriertn #adamstn #cedarhilltn #coopertowntn #pleasantviewtn
