inception-app-prod/MTI2Mjg4MzMtODY3Yy00M2RmLTgyNGItOTY4ZDc2NzJmNWEy/content/2021/01/bXRpMm1qZzRtem10b2R5M3l5MDBtMnJtbHRneW5naXRvdHk0.jpg
  • Home
  • About
  • Blog
  • Contact
  • Listings Search
    • Silver Lake
    • Echo Park
    • Hollywood Hills
    • West Hollywood
    • Los Feliz
  • Why we like Karen
  • Financial Options
KAREN NUMME
the collective
01705405
inception-app-prod/MTI2Mjg4MzMtODY3Yy00M2RmLTgyNGItOTY4ZDc2NzJmNWEy%2Flogo%2F2015%2F06%2FKaren Numme_B&Wbkgd_7768rev %281%29.jpg
323.804.2008
Sign In
Sign Up
inception-app-prod/MTI2Mjg4MzMtODY3Yy00M2RmLTgyNGItOTY4ZDc2NzJmNWEy/content/2021/01/bXRpMm1qZzRtem10b2R5M3l5MDBtMnJtbHRneW5naXRvdHk0.jpg
  • Home
  • About
  • Blog
  • Contact
  • Listings Search
    • Silver Lake
    • Echo Park
    • Hollywood Hills
    • West Hollywood
    • Los Feliz
  • Why we like Karen
  • Financial Options
inception-app-prod/MTI2Mjg4MzMtODY3Yy00M2RmLTgyNGItOTY4ZDc2NzJmNWEy/content/2021/01/bXRpMm1qZzRtem10b2R5M3l5MDBtMnJtbHRneW5naXRvdHk0.jpg
inception-app-prod/MTI2Mjg4MzMtODY3Yy00M2RmLTgyNGItOTY4ZDc2NzJmNWEy/content/2021/02/screenshot2021-02-02at3.47.46pm-2-2-2.png

Owning a Home is Still More Affordable than Renting One

inception-app-prod/MTI2Mjg4MzMtODY3Yy00M2RmLTgyNGItOTY4ZDc2NzJmNWEy%2Flogo%2F2015%2F06%2FKaren Numme_B&Wbkgd_7768rev %281%29.jpg
KAREN NUMME,02/2/2021

Owning a Home Is Still More Affordable Than Renting One

Owning a Home Is Still More Affordable Than Renting One | MyKCM

If spending more time at home over the past year is making you really think hard about buying a home instead of renting one, you’re not alone. You may be wondering, however, if the dollars and cents add up in your favor as home prices continue to rise. According to the experts, in many cases, it’s still more affordable to buy a home than rent one. Here’s why.

ATTOM Data Solutions recently released the 2021 Rental Affordability Report, which states:

“Owning a median-priced three-bedroom home is more affordable than renting a three-bedroom property in 572, or 63 percent of the 915 U.S. counties analyzed for the report.

That has happened even though median home prices have increased more than average rents over the past year in 83 percent of those counties and have risen more than wages in almost two-thirds of the nation.”

How is this possible?

The answer: historically low mortgage interest rates. Todd Teta, Chief Product Officer with ATTOM Data Solutions, explains:

“Home-prices are rising faster than rents and wages in a majority of the country. Yet, home ownership is still more affordable, as amazingly low mortgage rates that dropped below 3 percent are helping to keep the cost of rising home prices in check.”

In 2020, mortgage rates reached all-time lows 16 times, and so far, they’re continuing to hover in low territory this year. These low rates are a big factor in driving affordability. Teta also notes:

“It’s startling to see that kind of trend. But it shows how both the cost of renting has been relatively high compared to the cost of ownership and how declining interest rates are having a notable impact on the housing market and home ownership. The coming year is totally uncertain, amid so many questions connected to the Coronavirus pandemic and the broader economy. But right now, owning a home still appears to be a financially-sound choice for those who can afford it.”

Bottom Line

If you’re considering buying a home this year, let’s connect today to discuss the options that match your budget while affordability is in your favor.

Print Details
Previous post
Next post
Is Right Now The Right Time to Sell?
Do You Really Need 20% to Purchase a Property?
Realtor
SRES
Realtor
SRES
Realtor
SRES
Realtor
SRES
Realtor
SRES
Realtor
SRES
Realtor
SRES
Realtor
SRES

Office

The Collective Realty
8278 1/2 Santa Monica BlvdWest Hollywood
CA 90046
323.804.2008
karennumme13@gmail.com

Essentials

  • Home
  • About
  • Blog
  • Contact
  • Listings Search
  • Why we like Karen
  • Financial Options

Consumer Protection & Privacy

  • Accessibility
  • DMCA Compliance
For ADA assistance, please email compliance@placester.com. If you experience difficulty in accessing any part of this website, email us, and we will work with you to provide the information.
inception-app-prod/MTI2Mjg4MzMtODY3Yy00M2RmLTgyNGItOTY4ZDc2NzJmNWEy%2Flogo%2F2015%2F06%2Fthe collective realty logo.jpg
CREATING WEALTH THROUGH REAL ESTATE

© 2021 All rights reserved

Created with Placester

Sign in

Sign In
Forgot your password?
Create an account
You have been successfully logged in
The page will reload automatically.
Go to the homepage
Sorry something went wrong
Login or password are incorrect. Please try again.
Try again

Sign Up

Sign Up
Already a User? Sign In
You have been successfully registered
Please check your email.
Go to the homepage
Sorry something went wrong
Please try again.
Try again

Reset password

Reset password
Return to Log In
Reset password email has been sent.
Go to the homepage
Sorry something went wrong
Please try again.
Try again

Change password

Change password
Sign Up
Your password has been successfully reseted.
Go to the homepage
Sorry something went wrong
Please try again.
Try again

Contact Form

Send
Success! Your message was sent!
Back to homepage
Oops! Error occurred.
Please try again.
Back to form
Already a User? Sign In

Account verification in progress

Account Verified!
You may now log in into your account
Go to the homepage
Error
Please try again.
Go to the homepage

Share this listing

Copy Link