Whether you are looking to buy a home in Fergus Falls or on a lake, I’m a real estate agent with the “heart of a teacher” who would love to help you in the process. As a real estate agent, I want to be prepared to ensure that you are given the best buying/selling experience with knowledge and expertise to guide you along the way.
Today I’d like to share information with you about how Buying a Home Is Cheaper Than Renting in the Majority of the US. I am convinced that in Fergus Falls it is less expensive to buy a home than it is to rent. Either way you are paying on a mortgage. ( see article)
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
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.
Source…. KCM Charlie Brue blog
To reach me, call or text 218-205-6566 Or send me an email at firstname.lastname@example.org
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