Tag: Orland Park Real Estate

Buying A Home Is More Affordable Than Renting In 54% Of US Counties

Buying A Home Is More Affordable Than Renting In 54% Of US Counties | Keeping Current Matters

According to ATTOM Data Solutions’ 2018 Rental Affordability Report, “buying a median-priced home is more affordable than renting a three-bedroom property in 240 of 447 [or 54% of] U.S. counties analyzed for the report.”

For the report, ATTOM Data Solutions compared recently released fair market rent data from the Department of Housing and Urban Development with reported income amounts from the Department of Labor and Statistics to determine the percentage of income that a family would have to spend on their monthly housing cost (rent or mortgage payments).

Daren Blomquist, Senior Vice President of ATTOM Data Solutions had this to say:

“Although buying is still more affordable than renting in the majority of U.S. housing markets, the majority is shrinking as home price appreciation continues to outpace rental growth in most areas.”

However, the report also shows that the average fair market rent rose faster than average weekly wages in 60% of the countiesanalyzed in the report (266 of 447 counties). With rents rising, many renters should consider buying a home soon.

Bottom Line

Rents will continue to rise, and mortgage interest rates are still at historic lows. Before you sign or renew your next lease, meet with a local professional who can help you determine if you are able to buy a home of your own and lock in your monthly housing expense.

 

Beautiful Orland Park Home That Has It All! Marketed by Judy Glockler

An in-ground pool, a finished basement with oak bar, theatre room and kitchenette and much more!

11008 Laurel Hill Drive

Orland Park, IL 60467

Laurel Hill-2

Laurel Hill bar

Laurel Hill pool

Seller lost buyer and is looking for a new owner of this great home. Beautiful eat-in kitchen has granite counter tops, there is a formal living room and dining room, main floor family room with fireplace, 4 spacious bedrooms, including a grand master suite, finished basement with oak bar, theatre room and kitchenette. Enjoy the in-ground pool and cabana. This home is a must see! $574,900.