Renting is Still More Affordable than Buying in All but Two Major U.S. Metros
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Renting remains more affordable than buying in most U.S. metros, with Detroit and Pittsburgh as exceptions. The average U.S. median asking rent is $1,703, a slight 0.2% decrease year over year. This trend is influenced by declining rental prices and high mortgage rates.
February 18, 2025 | 11:15 am
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Realtor.com, part of News Corp (NWS), reports that renting is more affordable than buying in most U.S. metros, except Detroit and Pittsburgh. This reflects the impact of declining rental prices and high mortgage rates.
The report from Realtor.com, a News Corp subsidiary, indicates a significant trend in the real estate market, which could positively impact News Corp's stock as it highlights the platform's valuable insights and data.
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IMPORTANCE 70
RELEVANCE 80