"Should I Buy or Continue Renting?"
It is a question many people ponder each and every year and the answer may not always be clear in some markets.
Last week, ATTOM Data Solutions released its 2021 Rental Affordability Report, which looks at the affordability of renting compared to home ownership across various parts of the United States.
Graphic Source: ATTOM Data Solutions
A few highlights from the article include:
1) Owning a median-priced three-bedroom home is more affordable than renting a three-bedroom property in 63% of the 915 U.S. counties analyzed for the report.
2) Median home prices have grown faster than average rent prices in 83% of the counties used in the report; prices have risen more than wages in two-thirds of the nation.
3) Home ownership is more affordable in suburban & rural areas while renting remains the most affordable option in the most populous urban markets.
For the Emerald Coast, it was cheaper to buy in Escambia, Santa Rosa & Okaloosa counties, while renting was the cheaper option in Walton county according to their findings.
Click Here to view more about the report and the article.
Content Source: ATTOM Data Solutions Article "Owning A Home More Affordable Than Renting in Nearly Tow Thirds of U.S. Housing Markets"