You'll Never Guess the Best State for Retirees—or the One They Should AvoidBy Clare Trapasso | Jul 13, 2018monkeybusinessimages/iStockLet's just get this out of the way: Yes, Florida boasts
Buying A Home Is Actually Cheaper Than Renting
The results of the 2018 Rental Affordability Report from ATTOM show that buying a median-priced home is more affordable than renting a three-bedroom property in 54% of U.S. counties analyzed for the report.
The updated numbers show that renting a three-bedroom property in the United States requires an average of 38.8% of income.
The least affordable market for renting was Marin County, CA, just over the Golden Gate Bridge from San Francisco, where renters spend a staggering 79.5% of average wages on rent, while the most affordable market was Madison County, AL where 22.3% of average wages went to rent.
Other interesting findings in the report include:
Average rent rose faster than income in 60% of counties
Average rent rose faster than median home prices in 41% of counties
While median home prices rose faster than average rents in 58% of counties
Buying a home makes sense socially and financially. If you are one of the many renters out there who would like to evaluate your ability to buy this year, meet with a local real estate professional who can help you find your dream home.
Although I was raised in Northeast Ohio I have lived on the coast for over 9 years. I am a military spouse who has moved from one side of the country to the other and back so I am extremely familiar w....