What's my home worth?

Enter your information and I'll get right back to you with a free home estimate.
Find out!
check

Sent

What's my home worth?

Enter your information and I'll get right back to you with a free home estimate.
Find out!
check

Sent

Terri Gold

Search For A Property

Buying a Home Is Cheaper Than Renting in the Majority of the US

April 23, 2018



by Keeping Current Matters

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, meet with a local real estate professional who can help you find your dream home.



Tags:

Featured Listings

sold
Gorgeous NEW CONSTRUCTION in the heart of Farragut! This upscale 2 story basement home features an open design with timeless style. Vaulted ceilings & Master on Main w/ walk-in shower, soaking tub, and his/hers WIC, 4 bedrooms w/ WIC plus bonus room..
$1,095,000
sold
4
beds
2
baths
3,427
Sq Ft
sold
A One of a Kind, Once in a Lifetime home. This hand hewn and self-built house is a work of art and a masterpiece of craftsmanship. Over 27 years, the builder, who was a Broadway and Clarence Brown Theater designer, handcrafted this hardwood Posts...
$560,000
sold
3
beds
2
baths
3,202
Sq Ft
sold
LISTING AGENT IS OWNER/SELLER Gorgeous Farragut brick home on Cul-De-Sac that overlooks the 14th fairway of the Fox Den Golf Course. AquaGuard flooring throughout the first floor. Separate staircase leads to the bonus room/5th bedroom...
$800,000
sold
4
beds
4
baths
3,270
Sq Ft
sold
Don't miss this opportunity to make this gorgeous two story basement, located in Farragut with an amazing open floor plan yours! Zoned for Farragut schools. Main level includes hardwood floors throughout, master bedroom with custom shelving...
$674,900
sold
3
beds
4
baths
2,773
Sq Ft

Recent Posts