I recently read the following article and it particularly holds true for Collier and Lee Counties.  Our rent prices have increased dramatically over the last 5 years and, although our sales prices have reduced recently, the rental rates have stayed very high.  One of the reasons is the lack of rental inventory as there are not as many investors buying just to rent out their properties in the past few years.  Also, the people who have owned rental property for a long time are beginning to retire and they want to move to Southwest Florida and enjoy the lifestyle themselves instead of renting their properties to others.  This is the perfect time to jump into homeownership.  If you have been considering a move, don’t hesitate any longer, call me today so we can get started.
Courtesy Keeping Current Matters 2018

Buying a Home Is Cheaper Than Renting in the Majority of the US | MyKCM

The results of the 2018 Rental Affordability Report from ATTOM show that buying a median-priced home is more affordable than renting a three-bedroom property in 54% of U.S. counties analyzed for the report.

The updated numbers show that renting a three-bedroom property in the United States requires an average of 38.8% of income.

The least affordable market for renting was Marin County, CA, just over the Golden Gate Bridge from San Francisco, where renters spend a staggering 79.5% of average wages on rent, while the most affordable market was Madison County, AL where 22.3% of average wages went to rent.

Other interesting findings in the report include:

  • Average rent rose faster than income in 60% of counties
  • Average rent rose faster than median home prices in 41% of counties
  • While median home prices rose faster than average rents in 58% of counties

Bottom Line

Buying a home makes sense socially and financially. If you are one of the many renters out there who would like to evaluate your ability to buy this year, let’s get together to find your dream home.

Stop throwing your money away to pay your landlord’s rent!  Start paying for your own mortgage and build equity for your family!  I am here to help.