Owning A Home Is More Affordable Than Renting In Most Markets In The US
According to a recent study by Zillow, owning a home is more affordable than renting in most metro markets across the United States.
According to the study, renters pay an average of 29.1% of their household income towards rent, while homeowners only pay an average of 15.4% towards their mortgages. This means renting eats up nearly twice as much of your income as owning a home.
Thanks to rising rents, homeownership is becoming a more sensible option across the nation, and renters are taking notice. According to the National Association of Realtors' Realtors Confidence® Index, 39% of homebuyers from October 2016 to November 2017 were renting at the time of their purchase, which means that 39% of buyers made the transition from renter to homeowner. And many of them did so without breaking the bank on a down payment. In fact, 61% of first-time buyers made a down payment of 6% or less.
If you're currently renting, it's time to reevaluate your situation. Why throw away nearly 30% of your income on rent when you can spend almost half as much and have a home to show for it?
What Is Your Home Worth?
It might be worth more than you think! Find out now. It takes less than a minute.
Please fill in your address.
Just To Make Sure...
Is this your correct address?
Zip / Postal Code
Thinking Of Selling?
Please select from one of the choices.
What's your name?
Please fill in your name.
Nice Meeting You!
Where would you like your result sent?
Prefer That I Call You?
I can give you more context this way. (It's up to you.)
You're All Set!
I'll reach back out to you ASAP with your home's estimated value.