It’s always the question that people ask most often, should I rent or purchase a home? It depends on your financial situation, of course but when you realize how much rent is; you may want to reconsider. This article in KeepingMattersCurrent.com says it all.
“Much has been written about how residential real estate values have increased since the housing market started its recovery in 2012. However, little has been shared about what has taken place with residential rental prices. Let’s shed a little light on this subject. ”
In the most recent Apartment Rent Report, RentCafe explains how rents have continued to increase over the last twelve months because of a large demand and a limited supply.
“Continued interest in rental apartments and slowing construction keeps the national average rent on a strong upward trend.”
Zillow, in its latest Rent Index, agreed that rents are continuing on an “upward trend” across most of the country, and that the trend is accelerating:
“The median U.S. rent grew 2% year-over-year, to $1,595 per month. The Zillow report went on to detail rent increases since the beginning of the housing market recovery in 2012.