Buying a home is more affordable than renting in 66 percent of U.S. housing markets, according ATTOM Data Solutions 2017 Rental Affordability Report. However, the report shows that the Greater Houston market offers stronger affordability on the rental side.
The analysis incorporated recently released fair market rent data for 2017 from the U.S. Department of Housing and Urban Development, (HUD) wage data from the Bureau of Labor Statistics along with public record sales deed data from RealtyTrac in 540 counties with at least 900 home sales in 2016.
“While buying continues to be more affordable than renting in the majority of U.S. markets, that equation could change quickly if mortgage rates keep rising in 2017,” said Daren Blomquist, senior VP of ATTOM Data Solutions, the new parent company of RealtyTrac.
See the complete report, including methodology and a map, HERE