HOUSES FAYETTEVILLE AR CHEAPER TO BUY OR RENT?
Have you ever wondered if it is cheaper to buy or rent houses Fayetteville AR? Arkansas remains one of the least expensive places to live in the country. Even in NWA where prices rose 8% each year, RealtyTrac notes it’s still cheaper to purchase a home than rent.
- A new RealtyTrac study found that purchasing a home was more affordable than renting in 291 U.S. counties, which accounts for over 58% of all counties, and included counties that are home to Chicago, Pheonix, Miami, Las Vegas & other metro areas.
- Rent is becoming less affordable as wages rise, but home prices are rising even faster than rent. In markets where home prices are still affordable, it’s a good time for renters to take the plunge into homeownership. Take action before rising prices and possibly rising interest rates make it increasingly tougher to afford to buy a home.
Rent is rising across much of the country at levels that exceed wage growth. Home prices are rising at roughly twice the rate of wages. Many people still debate housing market predictions though. Some are convinced prices & interest rates will continue to rise. Others are just as convinced about the contrary. However, Realtors say home affordability is still possible, especially in markets like those of Arkansas’.
While a home is a major investment, it is also the center of your personal life. It’s important to live in a home that is within your financial comfort zone. To that end, it may be more important to lock in today’s relatively low interest rates while they are still available!
Please give Blue Rose Property Solutions a call today! We would love to assist you in determining if you should buy or rent your next home. Let us help you in your process of finding that perfect home as well!
(479) 755-3130
homes@bluerosepropertysolutions.com