It is more affordable to rent a home than to buy one in 59% of America's housing market, according to a new report by ATTOM Data Solutions. Renting is the cheaper option in 442 of 755 counties analysed. Average weekly wages increased at a faster rate than average market rental prices in 361 of the 755 counties. The median price for an existing single-family house rose 6% from last year and was up 4% over the past 12 months, while rents were down 2% year-over-year.
It is more affordable to rent a home than to buy one in 59% of America's housing market, according to a new report by ATTOM Data Solutions. Renting is the cheaper option in 442 of 755 counties analysed. Average weekly wages increased at a faster rate than average market rental prices in 361 of the 755 counties. Furthermore, average house prices are rising at 6.7% annually, faster than the 3.5% average rental prices in 531 of the 755 counties.