According to Lau
ra Kusisto at REALTOR.COM:
A growing percentage of renters believe it is cheaper to rent than to buy a home, which helps explain why the home-ownership rate remains persistently low nearly a decade after the housing crash.
A boom in apartment construction in the past few years has caused rent increases to begin to level off in many U.S. cities, while home price gains have accelerated over the past year. As a result, roughly 76% of renters in August said they believe renting is more affordable than owning, up from 65% in September 2016, according to survey results from Freddie Mac expected to be released Wednesday.
“We talk virtually every day about how renting is becoming less and less affordable. I think the answer is just that housing is becoming less and less affordable and renting is the more affordable of the two,” said David Brickman, executive vice president and head of Freddie Mac Multifamily.
SALT is always working to address the need for affordable housing in Southern Arizona. If you or someone you know is looking for safe, affordable housing in Tucson, click on our Contact tab to receive more information.
