Renting Is Cheaper Than Owning in Nearly 90% of Local Markets
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ATTOM’s 2024 Rental Affordability Report analyzed 388 U.S. counties and found in 88 percent of them, it was cheaper to rent than own a three-bedroom home. “In almost 75% of markets with populations of at least 1 million, the share of average local wages consumed by renting is at least 10 percentage points lower than the portion required for typical major homeownership expenses, assuming a 20% down payment.”
Source: https://www.multifamilyexecutive.com/property-management/rent-trends/renting-is-cheaper-than-owning-in-nearly-90-of-local-markets_o
