Rent Affordability Continues to Suffer in Q3

December 9, 2014

Zillow Real Estate Research data found that, nationwide, buying a home remains more affordable than renting, even for first-time buyers.

 

Renters continue to struggle as the largest 35 metro areas have historically unaffordable rents, according to Zillow’s 2014 Q3 Affordability Index. Median-income renters looking for a median-priced apartment should expect to pay about 30 percent of their income on rent, compared to the historic 25 percent. Meanwhile, homes remain very affordable to buy relative to historic norms.

 

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