Aug 4 2017 6823 1

Dated: 08/04/2017

Views: 567

Affordability challenges are weighing on the housing market, as many homebuyers and sellers contend with either being unable to compete or to find a new home within reach.

Buying a home, however, is still better than renting one in most states—35, to be exact, according to a recent study by GOBankingRates.

Analysts for GOBankingRates factored in recent median monthly home price and rent data by state, as well as mortgage rates—gathered by Zillow—to determine levels of affordability. The study assumed a 20 percent down payment on a 30-year, fixed-rate mortgage, and took into account homeowners insurance costs and property taxes.

Buying is significantly more affordable than renting in Alaska, Illinois, Maryland, New Jersey and New York, the study shows, with New Jersey residents saving $566 a month by owning—the highest yield of all states!  I love working with first time buyers, call me to learn if owning is better then renting for you. Lisa Regan 609-661-3100




Latest Blog Posts

Historic Active Listing Count In The LBI NJ Real Estate Market

Historic Active Listing  Count in the LBI NJ Real Estate MarketActive Listings in the Long Beach Island Real Estate Market 2013-2018Long Beach Island Real EstateOne of the major issues facing

Read More

Understanding Listing Patterns In The Long Beach Island New Jersey Real Estate Market

Understanding Listing Patterns In The Long Beach Island New Jersey Real Estate MarketLong Beach Island NJ Real EstateThe LBI real estate market is rather unique in that there is a very definite

Read More

Its Pumpkin Picking Time Near You

Yep, it's that time of year again. The summer flew buy lightning fast (well, for me anyway)! Labor Day has come and gone,kids are back in school , the beaches while still some are open are way less

Read More

People Who Live In Glass Houses Should Buy Good Drapes

What does this mean? I have no idea; I just thought it would be a catchy headline to capture your attention. This is an open letter to people who are center and right leaning.WARNING: Important

Read More