How Lower Rents Can Raise Homeownership Rates

May 29, 2015
A new Zillow analysis found that more affordable rents allow households to save enough money for a down payment to purchase a home. 
Currently, the nation’s rent affordability crisis is what’s keeping many from being able to purchase a home of their own, although ownership looks like the more pocketbook-friendly option. Zillow reported that in metro areas with more affordable mortgages also see higher homeownership rates, and even areas where mortgage affordability isn’t that great remain to leave homeowners in better financial situations than when they were renting.