Home prices are rising faster than wages in 80% of U.S. markets
January 10, 2019 / Alcynna Lloyd
Climbing home prices and less than significant increases in wage growth have contributed to renting becoming a more affordable option for Americans, according to ATTOM Data Solutions' latest Rental Affordability Report. In 59% of U.S. metros studied, renting a three-bedroom property is less expensive than purchasing a median-priced home. That’s a whopping 442 out of the 755 counties, according to the report. Notably, ATTOM discovered that renting is also a more affordable option in 18 of the nation’s most populated counties and 93% of counties with a population consisting of more than 1 million people.