Home ownership still more affordable than rent
February 10, 2022
Per article in the Residential Realty web site:
Study shows homeownership still more affordable than renting in most parts of the U.S.
Rising home prices and the issues that causes for housing affordability have attracted plenty of headlines over the past year. But homeownership is still more affordable than renting in most markets, according to the latest study by ATTOM Data Solutions.
Home prices have increased by more than 10% in most of the country over the past year as high demand and low housing inventories have moved prices higher.
The study found that owning a media-priced, three-bedroom home is more affordable than renting an equivalent property in 58% of the 1,154 U.S. counties tracked.
Owning a home tends to be the most affordable in less-populated counties.
