IRVINE, CA—RealtyTrac, the nation's leadingsource for comprehensive housing data, has released its 2016Rental Affordability Analysis, which shows that buying isstill more affordable than renting in 58% of US housing marketsdespite home price appreciation outpacing rent growth in 55% ofmarkets. The report also shows that the rise in rents is outpacingweekly wage growth in 57% of markets.

The analysis included recently-released rental data from theUS Department of Housing and Urban Development,wage data from the Bureau of Labor Statisticsalong with public record sales deed data from RealtyTrac in 504counties with a population of at least 100,000 (see fullmethodology below).

"Renters in 2016 will be caught between a bit of a rock and ahard place, with rents becoming less affordable as they rise fasterthan wages, but home prices rising even faster than rents," saidDaren Blomquist, vice president at RealtyTrac. "Inmarkets where home prices are still relatively affordable, 2016 maybe a good time for some renters to take the plunge into homeownership before rising prices and possibly rising interest ratesmake it increasingly tougher to afford to buy a home."

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David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.