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Renting Surpasses Buying in Affordability Across All Major US Metro Areas

1 min read
Source: Newser
Renting Surpasses Buying in Affordability Across All Major US Metro Areas
Photo: Newser
TL;DR

A new report by Realtor.com reveals that renting is now more cost-effective than buying in all 50 of the largest metro areas in the US, with rental costs dropping steadily over the last seven months. Rising home prices have led to a $1,027 per month difference between owning a starter home and renting, with Austin, Seattle, and Phoenix showing the most significant gaps. High mortgage rates and low inventory are cited as the main reasons behind the cost disparity.

Topics:businessreal-estate#buying#housing-market#metro-areas#real-estate#renting
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  1. It's Cheaper to Rent Than Buy in Every Big US Metro Area  Newser
  2. Realtor describes the shift that's driving real estate 'across the board' in top markets  Fox Business
  3. It’s cheaper to rent than buy a starter home in top 50 US metros: Report  The Hill
  4. It’s now cheaper to rent than buy in all major US metros  NewsNation Now
  5. Renting is 60.1% cheaper than buying a home  Voz Media

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