Renting A Home Frequently Costs More than Buying!
Posted by Larry Tollen on
Rents are skyrocketing, and while the labor market is strong, salaries are not keeping pace with inflationary pressures combined with ever increasing rents. Whether you're looking to buy for the first time and saving for a downpayment or those looking to sell and then rent, the challenge of renting is unstable housing costs. Ideally you could budget a specific amount of money per month for housing however volatile rental costs are making this extremely challenging. Below we review the state of the market and offer some common sense ways to stabilize housing costs through homeownership.
State of the Market
According to the ATTOM Data 2022 Rental Affordability Report, owning a home is more affordable than renting in the majority of the…
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