Check This Map Before Deciding Whether To Rent Or Buy A House
If you insist on living in one of the country’s inflated housing bubbles ― yes, Brooklyn and Northern California, we’re talking about you ― you probably already know you’ll be a renter for the foreseeable future. But in 54 percent of the nation’s housing markets, it’s still more affordable to buy than rent, according to a 2018 rental affordability report from Attom Data Solutions. “As home price appreciation continues to outpace rental growth in most areas, renting has clearly become the lesser of two housing affordability evils,” said Daren Blomquist, vice president at Attom, in a statement. Check out this interactive map to see how the real estate data firm’s numbers shake out where you live: The study used recently released data for 2018 from the U.S. Department of Housing and Urban Development, wage data from the Bureau of Labor Statistics and sales deed data from public records in 447 U.S. counties with sufficient home sales information. Rental affordability was determined from the average fair market rent for a three-bedroom property as a percentage of the area’s average monthly wage.
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