When Is It A Good Time To Rent Definitely NOT NOW

Dated: 05/24/2016

Views: 754

When Is It A Good Time To Rent? Definitely NOT NOW! | Keeping Current Matters

People often ask whether or not now is a good time to buy a home. No one ever asks when a good time to rent is. However, we want to make certain that everyone understands that today is NOT a good time to rent.

The Census Bureau recently released their first quarter median rent numbers. Here is a graph showing rent increases from 1988 until today:

When Is It A Good Time To Rent? Definitely NOT NOW! | Keeping Current Matters

A recent Wall Street Journal article reports that rents rose “faster last year than at any time since 2007, a boon for landlords but one that has stoked concerns about housing affordability for renters.”

The article also cited results from a recent Reis Inc. report which revealed that average effective rents rose 4.6% in 2015, the biggest gain since before the recession. Over the past 15 years, rents have risen at a rate of 2.7% annually. 

Where are rents headed?

Jonathan Smoke, Chief Economist at realtor.com recently warned that:

“Low rental vacancies and a lack of new rental construction are pushing up rents, and we expect that they’ll outpace home price appreciation in the year ahead.”  

Bottom Line

NAR’s Chief Economist, Lawrence Yun had this to say in the latest Existing Home Sales Report:

 "With rents steadily rising and average fixed rates well below 4 percent, qualified first-time buyers should be more active participants than what they are right now."

One way to protect yourself from rising rents is to lock in your housing expense by buying a home. If you are ready and willing to buy, meet with a local real estate professional who can help determine if you are able to today!


by 


 Blog submitted by: Tina Young (Investor, Realtor) of The Real Estate MarketPlace – Servicing the Greater Fort Hood area which includes: KilleenHarker HeightsTempleBeltonCopperas Cove and Nolanville. Feel free to call Tina at (254) 338-0545 if you have any questions regarding Central Texas Real Estate.


For Real Estate Listings in Central Texas visit my website at: www.Tina.killeenlistings.com or if you’re on the go text  'Tina' to 254-227-5799

Blog author image

Chip Franks

The Supreme Commander of The Real Estate MarketPlace and A Good Guy, In General! Ron "Chip" Franks was born in 1972 in the thriving metropolis of Killeen, Texas and makes his profession there as on....

Want to Advertise on this Site?

Latest Blog Posts

9 MoneySaving Tips That Grandma Never Told You About

Your grandma and her ma before her knew how to pinch pennies. Bet they knew where every dime of their household income went. Do you? Don't kick yourself if you don't. It's tough in this day and

Read More

5 Painting Mistakes Thatll Show

 5 Painting Mistakes That’ll ShowPainting can be one of the most cost-effective ways to spruce up a listing. But homeowners can also make a lot of mistakes with this common DIY job. 

Read More

Preparing Your Home For Sale 2018

Have you really considered selling your home ?Are there lots and lots of questions that you'd like answered well let's try to answer a few ?Are you trying to sell your home as quickly as possible

Read More

Zillow

I realize that you may not know where I am. I am the owner of The Real Estate Home Team which is in Copperas Cove, TX. I have been helping people buy and sell homes in the entire Fort Hood area for

Read More