[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f36xo63ut04ewg":3,"$ffeh0925h8cuz":42,"$fbwk2pqjjqsc7":46},{"item":4,"previous":30,"next":36},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":9,"isInfographic":14,"categories":15,"isVideo":14,"videoThumbnail":9,"videoSource":9,"publishedAt":28,"updatedAt":29},1165,"rents-are-on-the-rise-dont-get-caught-in-the-rental-trap-2","Rents Are on The Rise: Don’t Get Caught in The Rental Trap!","There are many benefits to homeownership, but one of the top benefits is protecting yourself from rising rents by locking in your housing cost for the life of your mortgage.","","blog","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2018\u002F08\u002F31114310\u002F20180904-Share-STM.jpg","There are many benefits to homeownership, but one of the top benefits is protecting yourself from rising rents by locking in your housing cost for the life of your mortgage.\u003C!--more-->\r\n\u003Ch4>\u003Cstrong>Don’t Become Trapped\u003C\u002Fstrong>\u003Cstrong> \u003C\u002Fstrong>\u003C\u002Fh4>\r\nA recent \u003Ca href=\"https:\u002F\u002Fwww.apartmentlist.com\u002Frentonomics\u002Fnational-rent-data\u002F\">article\u003C\u002Fa> by\u003Cem> Apartment List\u003C\u002Fem> addressed rising rents by stating:\r\n\u003Cblockquote>“\u003Cem>Our national rent index is up 0.1 percent month-over-month, marking the sixth straight month of increasing rents. \u003Cstrong>Year-over-year growth now stands at 1.2 percent\u003C\u002Fstrong>\u003C\u002Fem>.”\u003C\u002Fblockquote>\r\nThe article continues, explaining that:\r\n\u003Cblockquote>“\u003Cem>Rents increased month-over-month in 62 of the nation’s 100 largest cities, down significantly from the 85 cities that saw rents rise last month. That said, \u003Cstrong>rents are still up year-over-year in most of the nation’s largest markets — 77 of the 100 largest cities have seen rents increase over the past twelve months\u003C\u002Fstrong>\u003C\u002Fem>.”\u003C\u002Fblockquote>\r\nAdditionally, \u003Cem>Urban Land Magazine \u003C\u002Fem>\u003Ca href=\"https:\u002F\u002Furbanland.uli.org\u002Feconomy-markets-trends\u002Flower-income-renters-see-persistent-housing-cost-burdens\u002F\">explained\u003C\u002Fa> that,\r\n\u003Cblockquote>“\u003Cem>Currently, \u003Cstrong>nearly half (47 percent) of renter households are cost burdened\u003C\u002Fstrong> (i.e., paying more than 30 percent of income for housing), while \u003Cstrong>25 percent (totaling 11 million households) are severely cost burdened\u003C\u002Fstrong>, paying over 50 percent of their total household income for rent\u003C\u002Fem>.”\u003C\u002Fblockquote>\r\nThese households struggle to save for a rainy day and pay other bills, including groceries and healthcare.\r\n\u003Ch4>\u003Cstrong>It’s Cheaper to Buy Than Rent\u003C\u002Fstrong>\u003C\u002Fh4>\r\nAs we have previously \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2018\u002F08\u002F01\u002Fbuying-is-now-26-3-cheaper-than-renting-in-the-us\u002F\">mentioned\u003C\u002Fa>, the results of the latest \u003Cem>Rent vs. Buy Report\u003C\u002Fem> from \u003Cem>Trulia\u003C\u002Fem> show that \u003Cstrong>homeownership remains cheaper than renting \u003C\u002Fstrong>with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States.\r\n\r\nThe updated numbers show that the range is an average of 2% less expensive in Honolulu (HI), all the way up to 48.9% less expensive in Detroit (MI), and \u003Cstrong>26.3% nationwide\u003C\u002Fstrong>!\r\n\u003Ch4>\u003Cstrong>Know Your Options\u003C\u002Fstrong>\u003C\u002Fh4>\r\nPerhaps you have already saved enough to buy your first home. A nationwide \u003Ca href=\"https:\u002F\u002Fwww.buildium.com\u002Fresource\u002F2017-renters-survey\u002F\">survey\u003C\u002Fa> of about 1,166 renters found that \u003Cstrong>34% said they rent because they cannot afford to buy\u003C\u002Fstrong>, 29% said they cannot afford to buy where they live, and \u003Cstrong>nearly a quarter (24%) were saving to buy\u003C\u002Fstrong>.\r\n\r\nMany first-time homebuyers who believe that they need a large down payment may be \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2018\u002F06\u002F25\u002Fyou-do-not-need-20-down-to-buy-your-home-now\u002F\">holding themselves back\u003C\u002Fa> from their dream homes. As we have reported \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2018\u002F03\u002F13\u002Fyou-can-save-for-a-down-payment-faster-than-you-think-2\u002F\">before\u003C\u002Fa>, in many areas of the country, a first-time homebuyer can save for a 3% down payment in less than two years. You may have already saved enough!\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nDon’t get caught in the trap that so many renters are currently in. If you are ready and willing to buy a home, find out if you are able. Let’s get together to determine if you can qualify for a mortgage today!","\r\nDon’t get caught in the trap that so many renters are currently in. If you are ready and willing to buy a home, find out if you are able. Let’s get together to determine if you can qualify for a mortgage today!",false,[16,20,24],{"id":17,"name":18,"slug":19},5,"For Buyers","buyers",{"id":21,"name":22,"slug":23},11,"First-Time Buyers","first-time-buyers",{"id":25,"name":26,"slug":27},53,"Rent vs. Buy","rent-vs-buy","2018-09-04T10:00:00Z","2018-09-11T10:59:52Z",{"id":31,"slug":32,"title":33,"featuredImage":34,"publishedAt":35,"contentType":10,"isVideo":14},1164,"5-reasons-you-should-sell-this-fall","5 Reasons You Should Sell This Fall!","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2018\u002F08\u002F29180441\u002F20180903-Share-STM.jpg","2018-09-03T10:00:35Z",{"id":37,"slug":38,"title":39,"featuredImage":40,"publishedAt":41,"contentType":10,"isVideo":14},1166,"homeownership-is-a-dominant-gene","Homeownership is a Dominant Gene","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2018\u002F08\u002F21155959\u002F20180905-Share-STM.jpg","2018-09-05T10:00:50Z",{"cover":43,"open":44,"shareSpread":45},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Magazine-original.png",[47,51,52,56,60,64,68,69,73,77,81,85,89,93,97,98,102,106,110,114,118,122,126,130,134,138,142,146,150,154],{"id":48,"name":49,"slug":50},1,"Uncategorized","uncategorized",{"id":17,"name":18,"slug":19},{"id":53,"name":54,"slug":55},6,"For Sellers","sellers",{"id":57,"name":58,"slug":59},7,"Foreclosures","foreclosures",{"id":61,"name":62,"slug":63},8,"Infographics","infographics",{"id":65,"name":66,"slug":67},9,"Home Prices","home-prices",{"id":21,"name":22,"slug":23},{"id":70,"name":71,"slug":72},34,"Senior Market","senior-market",{"id":74,"name":75,"slug":76},35,"Mortgage Rates","mortgage-rates",{"id":78,"name":79,"slug":80},38,"Move-Up","move-up",{"id":82,"name":83,"slug":84},41,"For Sale by Owner","for-sale-by-owner",{"id":86,"name":87,"slug":88},42,"Featured","featured",{"id":90,"name":91,"slug":92},45,"New Construction","new-construction",{"id":94,"name":95,"slug":96},52,"Luxury \u002F Vacation","luxury--vacation",{"id":25,"name":26,"slug":27},{"id":99,"name":100,"slug":101},80,"Time-sensitive","time-sensitive",{"id":103,"name":104,"slug":105},81,"Outdated","outdated",{"id":107,"name":108,"slug":109},147,"Internal","internal",{"id":111,"name":112,"slug":113},148,"Do Not Autopost","do-not-autopost",{"id":115,"name":116,"slug":117},320,"Inventory","inventory",{"id":119,"name":120,"slug":121},321,"Agent Value","agent-value",{"id":123,"name":124,"slug":125},322,"Affordability","affordability",{"id":127,"name":128,"slug":129},323,"Buying Tips","buying-tips",{"id":131,"name":132,"slug":133},324,"Downsize","downsize",{"id":135,"name":136,"slug":137},325,"Economy","economy",{"id":139,"name":140,"slug":141},326,"Equity","equity",{"id":143,"name":144,"slug":145},327,"Forecasts","forecasts",{"id":147,"name":148,"slug":149},328,"Selling Tips","selling-tips",{"id":151,"name":152,"slug":153},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":155,"name":156,"slug":157},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]