A new Freddie Mac survey profiling renters and owners finds that an unprecedented number of renters—84 percent—believe renting is more affordable than owning, an all-time high for the survey and up 17 percentage points from two years ago. The number is even higher for Baby Boomers surveyed with 87 percent reporting renting is more affordable than owning, up 6 percent from last year.
Despite those numbers, the survey may be raising alarm bells about the impact of rising housing costs for many renters’ budgets as 42 percent of renters reported paying more than one-third of their income for rent, up 8 points from April 2019.
Read more...Freddie Mac Survey Profiles Renters vs. Owners via Multi-Housing News Online
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