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The Cost of Renting Vs. Buying a Home [INFOGRAPHIC]

August 28, 2020 By Tami Savage

The Cost of Renting vs Buying: Percentage of Income Needed to Afford the Median Priced Rent Historically = 25.8% Today = 27.8%. Percentage of Income Needed to Afford the Median Priced Home Historically = 21.1% and Today is 15.9%.

Some Highlights

  • The percentage of income needed to afford a median-priced home today is declining, while that for renting is on the rise.
  • This is making buying a home an increasingly attractive option for many people, especially with low mortgage rates driving purchasing power.
  • Let’s connect if you’d like expert guidance on exploring your homebuying options while affordability is high.

Tagged With: First Time Home Buyers, For Buyers, Infographics, Rent vs Buy

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I help homeowners sell their existing home and shift into a home more suitable to their needs in the North Metro Atlanta area (specifically around Cumming, Canton, & Milton). Read More…

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