Suburbs becoming more unaffordable for buyers and renters in the US
October 10, 2018 / Zillow
Housing affordability across the United States is especially tough in the nation’s urban areas, but in the country’s largest metros it’s often the suburbs that are the least affordable, a new analysis has found. Finding a home within their budget is the top concern for both renters and home buyers, according to the 2018 consumer housing trends report from real estate firm Zillow. Urban home buyers nationwide have to dedicate a larger share of their income to monthly mortgage payments at 26.5% than buyers in the suburbs or rural areas do at 20.2% and 13.4% respectively.