Tag Archives: Renting

Rents are elevating, growing at a much faster pace than home prices in most local U.S. markets. According to new data, however, renting remains more affordable than homeownership for many.

According to Realtor.com's August 2023 Rental Report, buying a starter home in the top 50 metros cost approximately 60.3% more than renting, while median U.S. rents experienced their fourth consecutive month of year-over-year declines.

Potential first-time homebuyers looking to shift from renting to homeownership in 2023 are facing mortgage rates that are nearly 4 percentage points higher than the low point in Q4 2020, limiting their purchasing power. In a new analysis, First American Economist Ksenia Potapov revealed the costs of renting against the costs of owning a home.

The high-priced housing market is affecting homebuyer sentiment nationwide, as a new survey from LendingTree revealed more than 50% of Americans fear they will never be able to own a home.

According to a new Home Bay study, it is more affordable to rent than buy a home in 90% of the most populous U.S. cities. Research found that, on average, renters save an estimated $174 a month, totaling $2,088 per year.

The share of families living in apartments has reached the highest level in half a century, as a new RentCafe study shows more of those who could purchase a home are choosing instead to rent.

On average, the monthly cost of buying a starter home in December 2022 was nearly 50% higher than the cost of renting, according to Realtor.com's Monthly Rental Report.

“Renting is more affordable in the majority of markets, despite rental rates continuing to rise over the past year,” said Rick Sharga, EVP of Market Intelligence for ATTOM.

New research from LendingTree reveals the U.S. cities where a mortgage is almost as affordable as renting.

With the affordability issue lingering for most prospective buyers, Louis Zitting of MonitorBase discusses remedies to overcome some of the hurdles thrown in the path to homeownership.