Tag Archives: cost of rent

Buying vs. renting: The income gap is widening, Redfin says

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The financial gap between owing and renting has grown significantly, making the dream of homeownership more distant, according to report released by Redfin Thursday. Continue reading →

What’s the rent? A whole month’s pay, 1 in 5 renters tell Redfin

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Redfin report finds 22 percent of U.S. renters say they pay their all of their monthly income to afford rent. They’re borrowing money, getting a second job and pulling from retirement to cover the cost. Continue reading →

Rent remains near record highs, but the balance of power is shifting

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At $2,052, the median monthly rent remains near its all-time high. But builders are wrapping up construction on thousands of new units, and rents could start falling soon. Continue reading →

4 more US senators call for DOJ probe of RealPage over rent hikes

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Sens. Elizabeth Warren, Bernie Sanders, Tina Smith and Edward Markey said they investigated rental data firm RealPage and call for more scrutiny of the company’s role in nationwide rent growth. Continue reading →

Minimum wage workers need at least 4 jobs to pay rent in some cities

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Even the most expensive cities — which typically have higher minimum wages — are more affordable than those with $7.25 an hour minimums, according to data released Tuesday by Zillow. Continue reading →

In reversal from 2021, it costs more to buy than rent in 95% of US

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Last year, it was more expensive to rent than own. High home prices and mortgage rates that doubled in 2022 changed that, according to a new report from property data firm Attom. Continue reading →

How much has rent risen? About an extra 6 hours of work per month

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A new Zillow report finds renters making average wages need to work 63 hours to cover rent compared to two years ago, highlighting a widening gap between rent growth and wage growth. Continue reading →

Rent rose so much, so fast it might have contributed to latest downtick

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Yet another report — this one by CoreLogic — shows that the rapid pace of rent increases is beginning to slow. Some of the increases occurred so quickly that they may have cooled growth. Continue reading →

More than half of all renters are planning a post-pandemic move

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Renters surveyed by property management software company Entrata cited cost and space-related reasons as their biggest impetus for moving over the past year. Continue reading →