Rents is Rising As Quick As Mortgage Rates
There is no question that increased mortgage rates is effecting affordability for home buyers today.
But one thing renters should keep in mind is that interest on rent is 100%.
And while the headlines are only focused on interest rates, the rental market is seeing price increases like never before.
According to realtor.com the median rent in the top 50 metro areas reached nearly $1900/month-15.5% higher than at this time last year and a new rent record for the 15th month in a row.
??Studios are up 16.9%
??1 bedroom apartments up 15.2%
??And 2 bedroom apartments 14.8%
Whether you are renewing your lease this summer or locked in for another 6 months, getting qualified for a home takes just a little effort and no money so let us help paint what homeownership could look like for you.
Send this to someone you know that is renting!
#rental #nahedbenyamein #nesreendye #inflation #mortgagerates #kcm #keepingcurrentmatters #realestateinfo #realestatetips