Owning A Home More Affordable Than Renting

Owning A Home More Affordable Than Renting

Owning a home more affordable than renting in nearly two thirds of the U.S. housing markets. Less populous areas and counties located in the Midwest and South are more likely to have more affordable home buying than renting options. According to a report from Attom Data Solutions.  We checked the local stats, and this is very true for Alachua County Florida.

On January 7th, 2021, ATTOM Data Solutions, curator of the nation’s premier property database, released its 2021 Rental Affordability Report.  It shows that owning a median-priced three-bedroom home is more affordable than renting a three-bedroom property in 572, or 63 percent of the 915 U.S. counties analyzed for the report.

According to the stats for Alachua County FL, the interactive ATTOM Data Solutions graphic in this post show that it is better to BUY than RENT in Alachua County.

Here are the stats on the graphic:

• Cheaper to BUY in Alachua County
• 2021 3 Bedroom Rental Rate: $ 1,508
• 2021 Rental Affordability – Percentage of Wages to Rent Rate: 35.5%
• 2020 Home Affordability – Percentage of Wages to Buy Home: 29.8%
• Population: 263,148

If you think you can’t afford being a homeowner, let’s talk about your situation.  We will help you learn about your credit scores and if a local lender can pre-qualify you for buying a home.  We are here to guide you every step of the way.  Having us work with you as your buyers agent, our services do not cost you any money!

The Bohn Team wants to be YOUR Realtor!