What Is the Current Ratio of Owning vs. Renting?
Digested from National Real Estate Investor
In 20 of the largest U.S. cities, the ratio of home prices to rents has stayed flat for the fourth year in a row, according to data from Case-Shiller and Reis. But on a city-by-city basis, this isn’t necessarily the case.
San Francisco, New York, Miami and Detroit have seen home prices rise at a higher rate than rent prices recently. In New York and San Francisco, this is being caused by low supply of homes for sale and the increasing supply of apartments.
Meanwhile, in Chicago and Atlanta, rent growth has outpaced housing prices recently. Atlanta’s job growth has outpaced the national average.
However, on the whole, the housing market has been balanced since 2013 in the 20 metro areas studied.