MN Renters - Don't Get Trapped By Rising Rent Prices

By
Real Estate Agent with Coldwell Banker Burnet Realty MN Broker# 20588319

 MN Renters - Don't Get Trapped By Rising Rent Prices

 

The article below is from a national publication, KeepingCurrentMatters.com, but the information on continued rent inceases is true in Minnesota, especially in the Twin Cities Metro. 

 

Data below from Rent Jungle.com

Twin Cities MN Rent Values for December 2015

 

 

 

There are many benefits to homeownership. One of the top ones is being able to protect yourself from rising rents and lock in your housing cost for the life of your mortgage.

 

Don’t Become Trapped

 

Jonathan Smoke, Chief Economist at realtor.com recently reported on what he calls a “Rental Affordability Crisis”. He warns that,

“Low rental vacancies and a lack of new rental construction are pushing up rents, and we expect that they’ll outpace home price appreciation in the year ahead.”

 

The Joint Center for Housing Studies at Harvard University recently released their 2015 Report on Rental Housing, in which they reported that 49% of rental households are cost-burdened, meaning they spend more than 30% of their income on housing. These households struggle to save for a rainy day and pay other bills, such as food and healthcare.

It’s Cheaper to Buy Than Rent In Smoke’s article, he went on to say, “Housing is central to the health and well-being of our country and our local communities. In addition, this (rental affordability) crisis threatens the future value of owned housing, as the burdensome level of rents will trap more aspiring owners into a vicious financial cycle in which they cannot save and build a solid credit record to eventually buy a home.” 

View original post  on KeepingCurrentMatters.com.

 

Contact Marzena M. Melby, REALTOR®, GRI, e-PRO, 

 Visit my website to search homes for sale in the Twin Cities and surrounding areas.

Disclaimer: The information provided herein is supplied by several sources and is subject to change without notice. Twin Cities Homes 4 Sale Blog does not guarantee, or is any way responsible for its accuracy, and provides said information without warranties of any kind, either express or implied. Entries on Twin Cities Homes 4 Sale Blog represent the opinions and ideas of the author. Twin Cities Homes 4 Sale Blog does not express the views of Coldwell Banker Burnet Realty, or its other partners or agents.

 

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Buying
Location:
Minnesota
Groups:
Investors
Posts to Localism
Local Expert
Advice for Buyers
Minnesota Real Estate
Tags:
minnesota real estate
minnesota real estate market
minnesota economy
minnesota buyers
minnesota rentals

Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
209,801

Marzena Melby

Realtor, Twin Cities Minnesota Real Estate
Ask me a question
*
*
*
*
Spam prevention

Additional Information