RISMedia
  • News
  • Premier
  • Publications
  • Events
  • Education
  • Newsmakers
  • Power Broker
No Result
View All Result
  • Agents
  • Brokers
  • Teams
  • Marketing
  • Coaching
  • Technology
  • More
    • Headliners New
    • Luxury
    • Best Practices
    • Consumer
    • National
    • Our Editors
Join Premier
Sign In
RISMedia
  • News
  • Premier
  • Publications
  • Events
  • Education
  • Newsmakers
  • Power Broker
No Result
View All Result
RISMedia
No Result
View All Result

Just In: Renters Can Buy a Home—Without Spending More Money

Home Latest News
April 30, 2017
Reading Time: 2 mins read
Just In: Renters Can Buy a Home—Without Spending More Money

Young couple holding their new, dream home in hands

Rents are so high that the average renter could buy a home worth approximately 50 percent more than the median home value without spending any more money, according to a recent analysis by Zillow.

The national median rent, $1,416, is enough to cover the monthly expense (including insurance, maintenance and taxes) of owning a home worth $289,505—considerably more than the national median home value of $196,500.

Similar outcomes shake out in the majority of cities analyzed:

Zillow_Buy_Rent_Chart

“Renters hesitant to enter the home-buying market for fear of not being able to find an affordable home should be encouraged to discover they may have more options than they thought,” says Dr. Svenja Gudell, chief economist at Zillow.

“However, it’s worth noting that many of the more affordable homes for sale may be older, smaller and/or located in less-desirable neighborhoods than they might like,” Gudell says. “The decision between buying and renting is a financial trade-off between saving more each month on a mortgage payment versus spending more on rent, but taking advantage of the location and lifestyle amenities urban renting often offers.”

Scraping together enough for a down payment is another issue—though lesser now that rents are losing steam.

“Recent slowdowns in rent growth may take some of the edge off for renters saving to become homeowners,” says Gudell. “This is good news, since saving a down payment, qualifying for a loan and finding a home available at a manageable price remain hurdles for millions of aspiring buyers.”

For more information, please visit www.zillow.com.

For the latest real estate news and trends, bookmark RISMedia.com.

Tags: Home Value AppreciationHome-BuyingHousing CostsRent AppreciationRentingZillow
ShareTweetShare
Susanne Dwyer

Susanne Dwyer

Related Posts

Meeting the Demand of the Secondary House Market
Best Practices

Meeting the Demand of the Secondary House Market

June 29, 2022
Mark Your Calendar: REALTOR® Store Summer Sales—Get 20% Off
Best Practices

Mark Your Calendar: REALTOR® Store Summer Sales—Get 20% Off

June 29, 2022
Captaining the Ship: Be Prepared to Navigate Real Estate’s Choppy Seas
Best Practices

Captaining the Ship: Be Prepared to Navigate Real Estate’s Choppy Seas

June 29, 2022
Service That Keeps Your Business Growing
Best Practices

Service That Keeps Your Business Growing

June 29, 2022
3 Things Your Clients Should Know About Property Lines
Best Practices

3 Things Your Clients Should Know About Property Lines

June 29, 2022
Berkshire Hathaway HomeServices Expands Global Presence in Italy
Best Practices

Berkshire Hathaway HomeServices Expands Global Presence in Italy

June 29, 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Tip of the Day

Break a Leg: How Acting Techniques Can Enhance Your Pitch

Authenticity, emotion and empathy are all a big part of a successful client presentation, and actors have the answers. Read more.

Business Tip of the Day provided by
REGISTER NOW

Recent Posts

  • How to Help Your Kids Prepare for a New Pet
  • How to Choose the Right Lighting for Your Bathroom
  • What to Do If You Get Preapproved for a Mortgage, Then Denied a Loan Right Before Closing

Categories

  • Spotlights
  • Best Practices
  • Advice
  • Marketing
  • Technology
  • Social Media

The Most Important Real Estate News & Events

Click below to receive the latest real estate news and events directly to your inbox.

Sign Up
By signing up, you agree to our TOS and Privacy Policy.

About Blog Our Products Our Team Contact Advertise/Sponsor Media Kit Email Whitelist Terms & Policies

© 2022 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.

No Result
View All Result
  • Home
  • Premier
  • News
    • Agents
    • Brokers
    • Teams
    • Consumer
    • Marketing
    • Coaching
    • Technology
    • Headliners New
    • Luxury
    • Best Practices
    • National
    • Our Editors
  • Publications
    • Real Estate Magazine
    • Past Issues
    • Custom Covers
  • Events
    • Upcoming Events
    • Podcasts
    • Event Coverage
  • Education
    • Get Licensed
    • REALTOR® Courses
    • Continuing Education
    • Luxury Designation
    • Real Estate Tools
  • Newsmakers
    • 2022 Newsmakers
    • 2021 Newsmakers
    • 2020 Newsmakers
    • 2019 Newsmakers
  • Power Broker
    • 2022 Power Broker
    • 2021 Power Broker
    • 2020 Power Broker
    • 2019 Power Broker
  • Join Premier
  • Sign In

© 2022 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.