Renters in Pittsburgh, Ventura County, Kansas City, McAllen, Texas and Lake County outside of Chicago can expect rents to rise at a pace greater than their area's home prices, according to data released this week in the ATTOM 2022 Rental Affordability Report.
Those aren't the only locations where the cost to rent exceeds homeownership.
ATTOM's report shows that owning a median-priced home is more affordable than the average rent on a three-bedroom property in 666 (or 58%) of the 1,154 US counties analyzed for the report. That means major home ownership expenses consume a smaller portion of average local wages than renting.
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