![\"It\u2019s](\"http:\/\/www.anthonydidonato.net\/wordpress\/wp-content\/uploads\/2017\/01\/01112017.png\")
<\/a>It\u2019s Still More Affordable to Buy Than Rent<\/p><\/div>\n
<\/p>\n
In about two-thirds of the country \u2013 or 66 percent of the largest U.S. counties \u2013 it\u2019s more affordable to buy a home than to rent one, according to a report by ATTOM Data Solutions.<\/p>\n
They compared the monthly rents of three-bedroom apartments to monthly payments on median-priced homes (including the mortgages, property taxes, and insurance) across 540 counties.<\/p>\n
\u201cIt feels like buying a home is getting tougher and tougher from an affordability standpoint,\u201d\u00a0says Daren Blomquist, ATTOM\u2019s senior vice president. \u201cBut the low interest rates have really helped.\u201d<\/p>\n
Mortgage rates, however, are expected to rise in the near future. That could dampen the affordability prospects in the future.<\/p>\n
\u201cEven a fairly slight increase in mortgage rates could flip the equation and make it more affordable to rent than to buy,\u201d Blomquist says.<\/p>\n
According to the report, rents have been surging faster than home prices in about 27 percent of the markets measured.<\/p>\n
In the country\u2019s most populated counties, the following places topped the list as most affordable to buy than rent: Cook County (Chicago), Ill.; Maricopa County (Phoenix), Arizona, Miami-Dade County, Fla.; San Bernardino County, Cal. in inland Southern California; Clark County (Las Vegas), Nev.; Tarrant County, Texas in the Dallas metro area; Wayne County (Detroit), Mich.; Broward County, Fla. in the Miami metro area; Bexar County (San Antonio), Texas; and Philadelphia County, Pa.<\/p>\n
<\/p>\n
Source: \u201cBuying a Home May Be\u00a0 More Affordable Than You Think,\u201d realtor.com\u00ae (Jan. 5, 2017) and ATTOM Data Solutions<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"It\u2019s Still More Affordable to Buy Than Rent In about two-thirds of the country \u2013 or 66 percent of the largest U.S. counties \u2013 it\u2019s more affordable to buy a home than to rent one, according to a report by ATTOM Data Solutions. They compared the monthly rents of three-bedroom apartments to monthly … <\/p>\n
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