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Most renters can now buy a home without increasing their monthly costs
By reinvestor on May 1, 2017
Rents are now so high in some parts of the U.S. that it’s now possible to buy a home without increasing your monthly costs, according to Zillow. The online listings portal says renters can now purchase a home nearly 50 percent more expensive than the median valued home, and keep the same monthly housing budget.
The median rent in the U.S. is $1,416 per month, which is enough to cover the monthly expenses associated with owning a $289,505 home. The median U.S. home value is $196,500.
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