What You Don't Know About Rising Rents

You may have heard talk about rising rents. By some estimates, the median monthly rent cost is about 25% higher than a typical monthly cost for owning a mid-priced home. Check out these quick stats:

As owners or buyers, we're all impacted by high rental rates in some way. Consider this:

• Rising rents could push new homebuyers into the market, which could drive prices higher. Rising values may help with refinancing or even accessing cash for repairs, improvements, tuition or other expenditures.
• High rents make it harder to save for a down payment. Fortunately, low down payment options are plentiful.
• Rising rents improve potential cash flow opportunities on investment properties or vacation homes. The timing may be right to follow that dream.

If rising rents mean it's time for you or someone you care about to take action, please reach out. I'll be glad to help.