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| Sponsored by Quicken Loans |
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| Cost of Homeownership Increases 3 Times the Price of Renting |
| By Suzanne De Vita |
With affordability draining quickly, the gap is growing between the amount of buyers with a desire to purchase, and the amount of buyers who actually can. According to an analysis newly released by realtor.com®, the cost of homeownership has increased more than three times the price of renting today—and, areas in growing numbers are unaffordable. From July 2017 to July of this year, the expense of homeownership (including insurance and taxes) mounted by 14 percent, to $1,647 (median, monthly); to compare, the cost of renting rose 4 percent, to $1,267. Approximately 40 percent of Americans are in a county ...
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