IRVINE, CA -- RealtyTrac analyzed recently released rental data from HUD, wage data from the BLS along with public record sales deed data we collect in 504 counties with a population of at least 100,000 and found the following regarding rental affordability in 2016.
Highlights in the report:
· It is more
affordable to buy than to rent in 58 percent of the 504 counties (with a 3
percent down payment).
· Rents are
rising faster than wages but slower than home prices
o Rents on
3-bedroom properties in 2016 up 3.5 percent on average from 2015
o Average weekly
wages up 2.6 percent year-over-year
o Median home
prices up 5.0 percent year-over-year
· Most
affordable and least affordable rental markets for average wage earners
o Across all 504
counties average rent requires 37 percent of average wages
o Top five least
affordable counties for renters are in Honolulu, Washington, D.C., New York
City (Brooklyn), and Northern California metros of Salinas, Santa Cruz and San
Francisco. Average rent requires more than 60 percent of average wages in all
five least affordable counties.
· Top
five most affordable counties for renters are in Huntsville, Alabama; Peoria,
Illinois; Davenport, Iowa; Atlanta; and Pittsburgh. Average rent requires 25
percent or less of average wages in all five most affordable counties.Boston
Bruins 1950-51 Roster
For
a complete copy of the company’s news release, please contact:
Jennifer von
Pohlmann
Sr. Data PR Manager
Office: 949.502.8300 ext 139
jennifer.vonpohlmann@realtytrac.com
No comments:
Post a Comment