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Renting Is More Affordable Than Buying In Most Major Housing Markets

News Summed Up 2019-01-10 05:30:00

Despite national rents clocking in at well over $1,400, in most of America’s largest housing markets renting is still more affordable than buying. A new analysis from ATTOM Data Solutions shows that renting a three-bedroom property is more affordable than buying a median-priced home in 37 of the nation’s 40 biggest counties. Home prices are also rising faster than rents in 70% of housing markets. According to ATTOM’s findings, home price growth is outpacing rent growth significantly in Cook County (Illinois), Harris County (Texas) and Maricopa County (Arizona) and Kings County (New York). As ATTOM’s Jennifer von Pohlmann succinctly puts it, “Renting a home is clearly becoming the more attractive option in this volatile housing market.”