The report found that “making monthly house payments on a median-priced home — including mortgage, property taxes and insurance — is more affordable than the fair market rent on a three-bedroom property in 354 of the 540 counties analyzed in the report (66 percent).”
Rents have been surging faster than home prices in about 37% of the markets measured. Daren Blomquist, Senior Vice President of #ATTOM Data Solutions
warns that rising interest rates could be the tipping point of affordability:
“While buying continues to be more affordable than renting in the majority of U.S. markets, that equation could change quickly if mortgage rates keep rising in 2017. In that scenario, renters who have not yet made the leap to homeownership will find it even more difficult to make that leap this year.”
will continue to rise and #mortgage
interest rates are still at historic lows. Before you sign or renew your next lease, meet with a #local professional
who can help you determine if you are able to buy a home of your own and lock in your monthly housing expense.