Buying a Home Remains 35% Less Expensive than Renting!

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Real Estate Agent with Keller Williams Realty Dallas Fort Worth 214-552-2091 TX License# 0581538

Buying a Home Remains 35% Less Expensive than Renting! | Simplifying The Market

Buying a Home Remains 35% Less Expensive than Renting!

 The updated numbers actually show that the range is from an average of 16% in Honolulu (HI), all the way to 55% in Sarasota (FL), and 35% Nationwide!

The other interesting findings in the report include:

  • Interest rates have remained low and even though home prices have appreciated around the country, they haven’t greatly outpaced rental appreciation. “In the past year, these two trends have made homeownership even more affordable compared with renting.”
  • Some markets might tip in favor of renting if home prices increase at a greater rate than rents and if – as most economists expect – mortgage rates rise, due to the strengthening economy.
  • Nationally, rates would have to rise to 10.6% for renting to be cheaper than buying – and rates haven’t been that high since 1989.  

Bottom Line

Buying a home makes sense socially and financially. Rents are predicted to increase substantially in the next year, lock in your housing cost with a mortgage payment now.
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rent versus buying

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Rainmaker
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Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Good monring, Raymond Edler  in a strong rental market, especially, homeownership is far less expensive than renting, if one is financially secure enough to complete that task.... that's the problem.... too many are over-extended and/or have credit issues....

Oct 18, 2015 11:19 PM #1
Rainmaker
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Pat Champion
Coldwell Banker Camelot Realty - Mount Dora, FL
Call the "CHAMPION" for all your real estate needs

Great post you are right owning a home can be cheaper than renting; if the individual can afford it and they are able to take on the responsibility. Thanks for sharing I hope you have a great day.

Oct 18, 2015 11:40 PM #2
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Raymond Edler

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