📈 Rents Are Still Climbing
Rents have gone up 30% since before the pandemic, according to recent data from Cotality, a housing analytics firm. That’s a huge jump—and the increases haven’t stopped. Today, average rents are still rising about 3% per year, and in some cities, even faster.
The reason? Demand for housing is greater than supply. There just aren’t enough homes and apartments available. Until more housing is built, prices will likely keep going up. Unfortunately, renters can expect to keep paying more each year.
🏡 Why Renting Might Be Costing You More Than You Think
You have to live somewhere. But renting long-term could be costing you more than just money each month.
Right now, many sellers are motivated to make deals. That means you may be able to get the seller to help pay your closing costs or even buy down your interest rate—which can make buying a home much more affordable.
💰 Homeowners Build Wealth Over Time
Here’s the kicker: Homeowners are, on average, 43 times wealthier than renters, according to recent national studies. Why?
Because when you own a home, you build equity as the value of your home rises. That equity becomes your wealth—not your landlord’s.
Even if home prices fluctuate in the short term, over time, they tend to rise in value. Owning your home means you benefit from that long-term growth.
✅ Now May Be a Smart Time to Buy
If you’re renting and feeling stuck, this may be the right time to explore your buying options. You don’t need a 20% down payment, and there are affordable mortgage programs available—even with rising home prices.
Let’s talk through your numbers and see what’s possible.
Because paying rent forever? That’s an investment in someone else’s future—not yours.
📞 Contact me today to see if homeownership is within reach. It may cost less than you think.