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| Daren Blomquist |
IRVINE, Calif. –— ATTOM
Data Solutions, curator of the nation’s largest fused property database, released
its 2017 Rental Affordability Report, which shows that buying a home is more
affordable than renting in 66 percent of U.S. housing markets analyzed for the
report.
The analysis incorporated
recently released fair market rent data for 2017 from the U.S. Department of
Housing and Urban Development, wage data from the Bureau of Labor Statistics
along with public record sales deed data from RealtyTrac in 540 counties with
at least 900 home sales in 2016 (see full methodology below).
“While buying continues to
be more affordable than renting in the majority of U.S. markets, that equation
could change quickly if mortgage rates keep rising in 2017,” said Daren Blomquist, senior vice president
with ATTOM Data Solutions, the new parent company of RealtyTrac.
“In that scenario, renters
who have not yet made the leap to homeownership will find it even more
difficult to make that leap this year. Additionally, renting may end up being
the lesser of two housing affordability evils in a growing number of
high-priced markets.”
For a complete copy of the company’s news
release, please contact:
Jennifer von Pohlmann
949.502.8300, ext. 139
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