Owning is cheaper than renting in much of the GOUSA

Jared Whalen/Axios

Owning a median-priced home is more affordable than the average rent on a three-bedroom property in 58% of the U.S., a new report says.

There’s a big city/suburban divide, though: Renting makes more sense in big metropolitan areas, while homeownership wins out in rural areas and suburbs, where property prices are lower…

Driving the news: A new report by ATTOM, the big real estate database company, shows that the more populous a county, the more likely it is that renting will be cheaper than owning, and vice versa…

“The good news is that for average wage earners who can afford a down payment, owning in a majority of the country takes a smaller percentage of their income and offers a chance to build equity and wealth,” says Todd Teta, chief product officer at ATTOM.

Not completely unusual. This was the decision I had to confront back in New England decades ago – when I ended up buying a home for the first time.

A useful article.

4 thoughts on “Owning is cheaper than renting in much of the GOUSA

  1. Gabacho says:

    “Apartment dwellers getting priced out of Santa Fe” https://www.santafenewmexican.com/news/local_news/apartment-dwellers-getting-priced-out-of-santa-fe/article_7c0db530-8608-11ec-926f-3b43db4940b2.html
    “Seven years ago, $850 was the going monthly rate for an apartment in Santa Fe.
    Today, $850 falls square in the realm of low-income housing — a commodity as rare in Santa Fe as a $250,000 house.
    And the starting rent at Santa Fe’s newest apartments mostly tops $1,700 per month.”

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