Posts from January 19th, 2018
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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.
Data Source: Zillow
Thanks to rising rents, homeownership is becoming a more sensible option across the nation, and renters are taking notice. According to the