[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f1vnnmdaqg6glb":3,"$ffeh0925h8cuz":47,"$fbwk2pqjjqsc7":51},{"item":4,"previous":35,"next":41},{"id":5,"slug":6,"title":7,"description":8,"excerpt":8,"contentType":9,"featuredImage":10,"bannerImage":11,"body":12,"agentsBottomLine":13,"bodyImage":14,"isInfographic":15,"categories":16,"isVideo":15,"videoThumbnail":11,"videoSource":11,"publishedAt":33,"updatedAt":34},3553,"with-rents-on-the-rise-is-now-the-time-to-buy","With Rents on the Rise – Is Now the Time To Buy?","According to recent data from \u003Cem>realtor.com\u003C\u002Fem>, median \u003Cstrong>rental prices have reached their highest point ever recorded\u003C\u002Fstrong> in many areas across the country. The \u003Ca href=\"https:\u002F\u002Fwww.realtor.com\u002Fresearch\u002Fjune-2021-rent\u002F\">report\u003C\u002Fa> found rents rose by \u003Cstrong>8.1%\u003C\u002Fstrong> from the same time last year. As it notes:","blog","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F07\u002F30144312\u002F20210803-KCM-Share.jpg","","According to recent data from \u003Cem>realtor.com\u003C\u002Fem>, median \u003Cstrong>rental prices have reached their highest point ever recorded\u003C\u002Fstrong> in many areas across the country. The \u003Ca href=\"https:\u002F\u002Fwww.realtor.com\u002Fresearch\u002Fjune-2021-rent\u002F\">report\u003C\u002Fa> found rents rose by \u003Cstrong>8.1%\u003C\u002Fstrong> from the same time last year. As it notes:\u003C!--more-->\r\n\u003Cblockquote>\u003Cem>“\u003Cstrong>Beyond simply recovering to pre-pandemic levels, rents across the country are surging.\u003C\u002Fstrong> Typically, rents fluctuate less than 1% from month to month. In May and June, rents increased by 3.0% and 3.2% from each month to the next.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\nIf you’re a renter concerned about rising prices, \u003Cstrong>now may be the time to consider purchasing a home\u003C\u002Fstrong>.\r\n\u003Ch4>\u003Cstrong>Monthly Rents Are Higher Than Monthly Mortgage Payments\u003C\u002Fstrong>\u003C\u002Fh4>\r\nWhen you weigh your options of whether to buy a home or continue renting, how much you’ll pay each month is likely top of mind. According to the \u003Cem>National Association of Realtors \u003C\u002Fem>(NAR)\u003Cem>,\u003C\u002Fem> monthly \u003Ca href=\"https:\u002F\u002Fwww.nar.realtor\u002Fblogs\u002Feconomists-outlook\u002Fhousing-affordability-falls-in-may-as-home-prices-rise-faster-than-income\">mortgage payments\u003C\u002Fa> are rising,\u003Cstrong> but they’re still significantly lower than the typical rental payment. \u003C\u002Fstrong>NAR indicates the latest data on homes closed shows the median monthly mortgage payment is $1,204.\r\n\r\nBy contrast, the median national rent is $1,575 according to the most current data provided by \u003Ca href=\"https:\u002F\u002Fwww.realtor.com\u002Fresearch\u002Fjune-2021-rent\u002F\">\u003Cem>realtor.com\u003C\u002Fem>\u003C\u002Fa>. \u003Cstrong>In other words, buyers who recently purchased a home locked in a monthly payment that is, on average, $371 lower than what renters pay today\u003C\u002Fstrong> \u003Cem>(see graph below)\u003C\u002Fem>:\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2021\u002F07\u002F20210803-MEM-Eng-1.png\">\u003Cimg class=\"aligncenter wp-image-44862\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2021\u002F07\u002F20210803-MEM-Eng-1.png\" alt=\"With Rents on the Rise – Is Now the Time To Buy? | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>\r\n\u003Ch4>\u003Cstrong>Rents Are Rising Sharply, and They Continue To Increase\u003C\u002Fstrong>\u003C\u002Fh4>\r\nThe difference in monthly housing costs when comparing renting and homebuying today is significant, but many would-be homebuyers wonder about the future of rental prices. If we look to historical \u003Ca href=\"http:\u002F\u002Fwww.census.gov\u002Fhousing\u002Fhvs\u002Ffiles\u002Fcurrenthvspress.pdf\">Census\u003C\u002Fa> data as a reference, \u003Cstrong>the median asking rent has risen consistently since 1988 \u003C\u002Fstrong>(\u003Cem>see graph below\u003C\u002Fem>):\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2021\u002F07\u002F20210803-MEM-Eng-2.png\">\u003Cimg class=\"aligncenter wp-image-44861\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2021\u002F07\u002F20210803-MEM-Eng-2.png\" alt=\"With Rents on the Rise – Is Now the Time To Buy? | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>The rise in rent over time clearly shows one of the major advantages homeownership has over renting: \u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002F2021\u002F05\u002F27\u002Fhow-misunderstandings-about-affordability-could-cost-you\u002F\">stable housing costs\u003C\u002Fa>. Renters face increasing costs every year. When you purchase your home, your mortgage rate is locked in for 30 years, meaning your monthly payment stays the same over time. That gives you welcome peace of mind and predictability for many years ahead.\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nWith rents continuing to rise across the country, renters should consider if now is the right time to buy. There are multiple benefits to buying sooner rather than later. Let’s discuss your options so you can make your most powerful decision.","\r\nWith rents continuing to rise across the country, renters should consider if now is the right time to buy. There are multiple benefits to buying sooner rather than later. Let’s discuss your options so you can make your most powerful decision.","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2021\u002F07\u002F20210803-MEM-Eng-1.png",false,[17,21,25,29],{"id":18,"name":19,"slug":20},5,"For Buyers","buyers",{"id":22,"name":23,"slug":24},9,"Home Prices","home-prices",{"id":26,"name":27,"slug":28},11,"First-Time Buyers","first-time-buyers",{"id":30,"name":31,"slug":32},53,"Rent vs. Buy","rent-vs-buy","2021-08-03T10:00:53Z","2021-08-09T20:45:00Z",{"id":36,"slug":37,"title":38,"featuredImage":39,"publishedAt":40,"contentType":9,"isVideo":15},1943,"key-questions-to-ask-yourself-before-buying-a-home","Key Questions To Ask Yourself Before Buying a Home","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F07\u002F29160532\u002F20210802-KCM-Share.jpg","2021-08-02T10:00:28Z",{"id":42,"slug":43,"title":44,"featuredImage":45,"publishedAt":46,"contentType":9,"isVideo":15},3554,"sellers-make-todays-home-price-appreciation-work-for-you","Sellers: Make Today’s Home Price Appreciation Work for You","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F07\u002F30152355\u002F20210804-KCM-Share.jpg","2021-08-04T10:00:38Z",{"cover":48,"open":49,"shareSpread":50},"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",[52,56,57,61,65,69,70,71,75,79,83,87,91,95,99,100,104,108,112,116,120,124,128,132,136,140,144,148,152,156],{"id":53,"name":54,"slug":55},1,"Uncategorized","uncategorized",{"id":18,"name":19,"slug":20},{"id":58,"name":59,"slug":60},6,"For Sellers","sellers",{"id":62,"name":63,"slug":64},7,"Foreclosures","foreclosures",{"id":66,"name":67,"slug":68},8,"Infographics","infographics",{"id":22,"name":23,"slug":24},{"id":26,"name":27,"slug":28},{"id":72,"name":73,"slug":74},34,"Senior Market","senior-market",{"id":76,"name":77,"slug":78},35,"Mortgage Rates","mortgage-rates",{"id":80,"name":81,"slug":82},38,"Move-Up","move-up",{"id":84,"name":85,"slug":86},41,"For Sale by Owner","for-sale-by-owner",{"id":88,"name":89,"slug":90},42,"Featured","featured",{"id":92,"name":93,"slug":94},45,"New Construction","new-construction",{"id":96,"name":97,"slug":98},52,"Luxury \u002F Vacation","luxury--vacation",{"id":30,"name":31,"slug":32},{"id":101,"name":102,"slug":103},80,"Time-sensitive","time-sensitive",{"id":105,"name":106,"slug":107},81,"Outdated","outdated",{"id":109,"name":110,"slug":111},147,"Internal","internal",{"id":113,"name":114,"slug":115},148,"Do Not Autopost","do-not-autopost",{"id":117,"name":118,"slug":119},320,"Inventory","inventory",{"id":121,"name":122,"slug":123},321,"Agent Value","agent-value",{"id":125,"name":126,"slug":127},322,"Affordability","affordability",{"id":129,"name":130,"slug":131},323,"Buying Tips","buying-tips",{"id":133,"name":134,"slug":135},324,"Downsize","downsize",{"id":137,"name":138,"slug":139},325,"Economy","economy",{"id":141,"name":142,"slug":143},326,"Equity","equity",{"id":145,"name":146,"slug":147},327,"Forecasts","forecasts",{"id":149,"name":150,"slug":151},328,"Selling Tips","selling-tips",{"id":153,"name":154,"slug":155},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":157,"name":158,"slug":159},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]