Buying a home has become more manageable and expected to stay this way for 30 more years
The latest studies are showing that buying makes more sense financially than renting, according to the KCM Blog.
The latest Existing-Home Sales report says median home sales price is $192,800, however with the average monthly home expense at $661.89 and the median monthly rent at $717, renting will ultimately become more expensive than buying. And when you consider the fact that rent prices have been increasing since 1988, but monthly housing expenses are predicted to stay the same for the next 30 years, we can see why owning makes more sense financially. Using information from a 2012 Center for Housing Policy study, below is an infographic of some of the latest statistics about buying and renting from the two reports.