With rents continuing to outpace wages and home prices rising even faster than rents, “renters in 2016 will be caught between a bit of a rock and a hard place,” said RealtyTrac Vice President Daren Blomquist in discussing the company’s 2016 Rental Affordability Analysis.
- Buying a home is actually more affordable than renting in more than half, or 58 percent, of the country’s markets.
- Rents are outpacing weekly wage growth in 57 percent of markets, and home price appreciation is outpacing rent growth in 55 percent of markets.
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