Home World News Interest rates and housing prices are rising, making it more cost-effective to rent than buy in most of the 50 major U.S. metropolitan areas.

Interest rates and housing prices are rising, making it more cost-effective to rent than buy in most of the 50 major U.S. metropolitan areas.

0
Interest rates and housing prices are rising, making it more cost-effective to rent than buy in most of the 50 major U.S. metropolitan areas.

A report from Realtor.com surveyed the 50 largest metropolitan areas in the United States and compared the average monthly costs of starter homes and apartment suites. The report’s results revealed that all 50 metropolitan areas have at least one thing in common: buying a starter home is more expensive than renting.

“We found that in the current market, all 50 top US assetsMetropolitanIn the area, renting is more affordable than buying.MortgageloanRising interest rates and rising home prices have made buying a home more expensive than renting for most people. ,

The report found thatatlantaAt the middle level, the average monthly cost of a starting house is 840 yuan higher than rental.

Jones said the monthly cost of buying a home is 52% higher than renting.

These statistics aren’t surprising to Cedric Thomas, a 26-year-old college-educated man who doesn’t know whether he’ll be able to buy his own home in the future. “I wanted a house, but as I’ve gotten older, it becomes more difficult,” he said. It’s not possible. Renting seems to be a better option now.”

Thomas said the American dream of owning a home with a white picket fence may be long gone, replaced by something more basic. “Having your own place, that’s the dream right now, just being able to move out of your mom’s house.” This is the American dream.”

focus(tagstotranslate)metro