Renters Missed Out on $51,500 This Past Year

Renters Missed Out on $51,500 This Past Year

The latest National Rent Report from Apartmentlist.com shows that rents are increasing at a rate much higher than the three years leading up to the pandemic:
A quick look into what's happening with prices in America might make your blood boil! It seems like nothing can stop these greedy landlords who want more money out of us tenants every month, but don't worry--we've got some tips on how you too could be renting cheap apartments for yourselves and not leaving any cash on table.

Since January of this year, the national median rent has increased by a staggering 16.4 percent. To put that in context, rent growth from January to September averaged just 3.4 percent in the pre-pandemic years from 2017-2019.”

Rents have been on the rise for some time, and with good reason. The median rental price has increased consistently over 33 years (see graph below):
- "Looking back in retrospect" -

If you’re looking to rent for another year, consider that the cost of renting has likely been going up. But it's not just about how much a place costs anymore--what really matters is whether or not those prices are worth paying in order get your own space and independence!

The Money Renters Stand To Lose This Year

A homeowner's monthly mortgage payment pays for their shelter, but it also acts as an investment. That equity grows in the form of a cushion with every additional penny paid down on what they owe to live at home and make ends meet each month! The latest Homeowner Equity Insights report from CoreLogic found homeowners gained significant wealth through this past year thanks largely due not only because prices are near-record levels right now--which has helped them tremendously--but also by taking advantage when interest rates were low earlier last decade which allowed people even more opportunity than usual get back into bidding wars or purchasing homes below market value just so long ago.

Renting is a terrible idea. You may think that you're getting the same benefit as owning, but in reality renting only covers your monthly cost and any included amenities while making no return on investment--that means by paying more this year than last year for rent alone plus missing out entirely on potential wealth gain worth up $51,500!

Bottom Line

Rents are rising, and you may be paying more than ever to keep up with the Joneses. You might not have enough saved up for a down payment or even rent every month! Don't miss out on building wealth through your home equity when we can help make that dream come true together today
Contact Lamont Orr Parkside Realty & Management now before these opportunities fly away like they're nobody’s business."

 

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