{"id":19334,"date":"2021-08-31T13:28:08","date_gmt":"2021-08-31T13:28:08","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=19334"},"modified":"2021-08-31T13:28:08","modified_gmt":"2021-08-31T13:28:08","slug":"starter-homes-still-cheaper-than-renting","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/starter-homes-still-cheaper-than-renting\/","title":{"rendered":"Starter Homes Still Cheaper Than Renting"},"content":{"rendered":"

Starter Homes Still Cheaper Than Renting<\/h1>\n
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Aspiring first-time home buyers may not want to give up on that competitive house hunt: In many markets, they could save money by owning.<\/p>\n

Buying a starter home is more affordable than renting in nearly half of the largest U.S. metros, according to a new study released by realtor.com\u00ae.<\/p>\n

The U.S. median rental price has climbed nearly 10% year over year to $1,607. That is 15.5% higher than the monthly payments for a starter home, the lower-priced tier of homes for sale in a market. Low mortgage rates are helping to offset recent jumps in home prices.<\/p>\n

\u201cRents hit new highs in 40 of the 50 largest U.S. metros this July and grew at an almost double-digit pace\u2014the fastest yearly rate we\u2019ve seen in the last 18 months,\u201d said Danielle Hale, realtor.com\u00ae\u2019s chief economist. \u201cSky-high rents and historically low interest rates have made the monthly cost to buy a starter home lower than renting one in nearly half the markets across the U.S.\u201d<\/p>\n

Still, first-time buyers will want to weigh the full costs of homeownership. \u201cBut if the monthly costs have been holding you back, data suggests it\u2019s worth exploring in many markets,\u201d Hale said. \u201cAlthough it\u2019s still hard to find entry-level homes, we are seeing more smaller homes coming on the market.\u201d<\/p>\n

Many of July\u2019s highest rent gains were in secondary markets where rental demand has quickly climbed during the pandemic. Remote work has allowed workers to leave big cities and work from anywhere. That has also helped keep a lid on monthly starter home costs in some of the largest metros. The costs of starter homes, on average, were 15.5%\u2014or $216\u2014lower than rents in nearly half of the 50 largest U.S. metros, the realtor.com\u00ae study said.<\/p>\n

In the top 10 metros that favored first-time homebuying over renting in July, monthly starter home payments were, on average, 24.3% lower than rents.<\/p>\n

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realtor.com\u00ae<\/a><\/div>\n
\u00a9National Association of REALTORS\u00ae
\nReprinted with permission<\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Starter Homes Still Cheaper Than Renting Aspiring first-time home buyers may not want to give up on that competitive house hunt: In many markets, they could save money by owning. Buying a starter home is more affordable than renting in nearly half of the largest U.S. metros, according to a new study released by realtor.com\u00ae. … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-19334","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nStarter Homes Still Cheaper Than Renting - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/starter-homes-still-cheaper-than-renting\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/starter-homes-still-cheaper-than-renting\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/starter-homes-still-cheaper-than-renting\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Starter Homes Still Cheaper Than Renting\",\"datePublished\":\"2021-08-31T13:28:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/starter-homes-still-cheaper-than-renting\\\/\"},\"wordCount\":341,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/starter-homes-still-cheaper-than-renting\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/magazine.realtor\\\/sites\\\/default\\\/files\\\/styles\\\/asset_image_full_content\\\/public\\\/assets\\\/images\\\/8.27.2021_starterhomes_1.png?itok=GffiMaB2\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/starter-homes-still-cheaper-than-renting\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/starter-homes-still-cheaper-than-renting\\\/\",\"name\":\"Starter Homes Still Cheaper Than Renting - 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