[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f35lhu13dvzdbq":3,"$ffeh0925h8cuz":43,"$fbwk2pqjjqsc7":47},{"item":4,"previous":31,"next":37},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":14,"isInfographic":15,"categories":16,"isVideo":15,"videoThumbnail":9,"videoSource":9,"publishedAt":29,"updatedAt":30},3788,"avoid-the-rental-trap-in-2022","Avoid the Rental Trap in 2022","Are you one of the many renters thinking about where you’ll live the next time your lease is up? Before you decide whether to look for a new house or another apartment, it’s important to understand the true costs of \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F11\u002F15\u002F4-things-every-renter-needs-to-consider\u002F\">renting\u003C\u002Fa> in 2022.","","blog","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F12\u002F21142050\u002F20220104-KCM-Share.jpg","Are you one of the many renters thinking about where you’ll live the next time your lease is up? Before you decide whether to look for a new house or another apartment, it’s important to understand the true costs of \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F11\u002F15\u002F4-things-every-renter-needs-to-consider\u002F\">renting\u003C\u002Fa> in 2022.\u003C!--more-->\r\n\r\nAs a renter, you should know \u003Ca href=\"https:\u002F\u002Fwww.census.gov\u002Fhousing\u002Fhvs\u002Ffiles\u002Fcurrenthvspress.pdf\">rents\u003C\u002Fa> have been rising since 1988 \u003Cem>(see graph below)\u003C\u002Fem>:\r\n\r\n\u003Ca href=\"https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F12\u002F21142052\u002F20220104-MEM-Eng-1.png\">\u003Cimg class=\"aligncenter wp-image-45757\" src=\"https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F12\u002F21142052\u002F20220104-MEM-Eng-1.png\" alt=\"Avoid the Rental Trap in 2022 | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>\r\n\r\nIn 2021, rents grew dramatically. According to \u003Ca href=\"https:\u002F\u002Fwww.apartmentlist.com\u002Fresearch\u002Fnational-rent-data\">\u003Cem>ApartmentList.com\u003C\u002Fem>\u003C\u002Fa>, since January 2021:\r\n\u003Cblockquote>\u003Cem>“\u003Cstrong>. . . the national median rent has increased by a staggering 17.8 percent. \u003C\u002Fstrong>To put that in context, rent growth from January to November averaged just 2.6 percent in the pre-pandemic years from 2017-2019.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\nThat increase in 2021 was far greater than the typical rent increases we’ve seen in recent years. In other words – \u003Cstrong>rents are rising fast. \u003C\u002Fstrong>And the \u003Ca href=\"https:\u002F\u002Fwww.realtor.com\u002Fresearch\u002F2022-national-housing-forecast\u002F\">\u003Cem>2022 National Housing Forecast\u003C\u002Fem>\u003C\u002Fa> from \u003Cem>realtor.com\u003C\u002Fem> projects prices for vacant units will continue to increase this year:\r\n\u003Cblockquote>\u003Cem>“In 2022, we expect this trend will continue and fuel rent growth. At a national level, \u003Cstrong>we forecast rent growth of 7.1% in the next 12 months\u003C\u002Fstrong>, somewhat ahead of home price growth . . .”\u003C\u002Fem>\u003C\u002Fblockquote>\r\nThat means, if you’re planning to move into a different rental this year, you’ll likely pay far more than you have in years past.\r\n\u003Ch4>\u003Cstrong>Homeownership Provides an Alternative to Rising Rents\u003C\u002Fstrong>\u003C\u002Fh4>\r\nIf you’re a renter facing rising rental costs, you might wonder what \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F10\u002F01\u002Freasons-renters-buy-infographic\u002F\">alternatives\u003C\u002Fa> you have. If so, consider homeownership. One of the many benefits of homeownership is it provides a stable monthly cost you can lock in for the duration of your loan.\r\n\r\nAs Lawrence Yun, Chief Economist at the \u003Cem>National Association of Realtors\u003C\u002Fem> (NAR), \u003Ca href=\"https:\u002F\u002Fwww.nar.realtor\u002Fnewsroom\u002Fexisting-home-sales-inch-up-0-8-in-october\">says\u003C\u002Fa>:\r\n\u003Cblockquote>\u003Cem>“. . . fast-rising rents and increasing consumer prices, \u003Cstrong>may have some prospective buyers seeking the protection of a fixed, consistent mortgage payment\u003C\u002Fstrong>.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\nIf you’re planning to make a move this year, \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F06\u002F18\u002Fowning-a-home-has-distinct-financial-benefits-over-renting-infographic\u002F\">locking in\u003C\u002Fa> your monthly housing costs for 15-30 years can be a major benefit. You’ll avoid wondering if you’ll need to adjust your budget to account for annual increases.\r\n\r\nHomeowners also enjoy the added benefit of home equity, which has grown substantially right now. In fact, the latest \u003Ca href=\"https:\u002F\u002Fwww.corelogic.com\u002Fintelligence\u002Fhomeowner-equity-insights\u002F\">\u003Cem>Homeowner Equity Insight\u003C\u002Fem>\u003C\u002Fa> report from \u003Cem>CoreLogic \u003C\u002Fem>shows the average homeowner gained $56,700 in equity over the last 12 months. As a renter, your \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F11\u002F01\u002Frenters-missed-out-on-51500-this-past-year\u002F\">rent payment\u003C\u002Fa> only covers the cost of your dwelling. When you pay your mortgage, you grow your wealth through the forced savings that is your home equity.\u003Cstrong>  \u003C\u002Fstrong>\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nIf you’re thinking of renting this year, it’s important to keep in mind the true costs you’ll face. Let’s connect so you can see how you can begin your journey to homeownership today.","\r\nIf you’re thinking of renting this year, it’s important to keep in mind the true costs you’ll face. Let’s connect so you can see how you can begin your journey to homeownership today.","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F12\u002F21142052\u002F20220104-MEM-Eng-1.png",false,[17,21,25],{"id":18,"name":19,"slug":20},5,"For Buyers","buyers",{"id":22,"name":23,"slug":24},11,"First-Time Buyers","first-time-buyers",{"id":26,"name":27,"slug":28},53,"Rent vs. Buy","rent-vs-buy","2022-01-04T11:00:50Z","2022-11-16T17:02:02Z",{"id":32,"slug":33,"title":34,"featuredImage":35,"publishedAt":36,"contentType":10,"isVideo":15},3789,"how-much-do-you-need-for-your-down-payment","How Much Do You Need for Your Down Payment?","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F12\u002F21164238\u002F20220103-KCM-Share.jpg","2022-01-03T10:00:39Z",{"id":38,"slug":39,"title":40,"featuredImage":41,"publishedAt":42,"contentType":10,"isVideo":15},3819,"why-waiting-to-sell-your-house-could-cost-you-a-small-fortune","Why Waiting To Sell Your House Could Cost You a Small Fortune","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F01\u002F04142828\u002F20220105-KCM-Share.jpg","2022-01-05T11:00:31Z",{"cover":44,"open":45,"shareSpread":46},"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",[48,52,53,57,61,65,69,70,74,78,82,86,90,94,98,99,103,107,111,115,119,123,127,131,135,139,143,147,151,155],{"id":49,"name":50,"slug":51},1,"Uncategorized","uncategorized",{"id":18,"name":19,"slug":20},{"id":54,"name":55,"slug":56},6,"For Sellers","sellers",{"id":58,"name":59,"slug":60},7,"Foreclosures","foreclosures",{"id":62,"name":63,"slug":64},8,"Infographics","infographics",{"id":66,"name":67,"slug":68},9,"Home Prices","home-prices",{"id":22,"name":23,"slug":24},{"id":71,"name":72,"slug":73},34,"Senior Market","senior-market",{"id":75,"name":76,"slug":77},35,"Mortgage Rates","mortgage-rates",{"id":79,"name":80,"slug":81},38,"Move-Up","move-up",{"id":83,"name":84,"slug":85},41,"For Sale by Owner","for-sale-by-owner",{"id":87,"name":88,"slug":89},42,"Featured","featured",{"id":91,"name":92,"slug":93},45,"New Construction","new-construction",{"id":95,"name":96,"slug":97},52,"Luxury \u002F Vacation","luxury--vacation",{"id":26,"name":27,"slug":28},{"id":100,"name":101,"slug":102},80,"Time-sensitive","time-sensitive",{"id":104,"name":105,"slug":106},81,"Outdated","outdated",{"id":108,"name":109,"slug":110},147,"Internal","internal",{"id":112,"name":113,"slug":114},148,"Do Not Autopost","do-not-autopost",{"id":116,"name":117,"slug":118},320,"Inventory","inventory",{"id":120,"name":121,"slug":122},321,"Agent Value","agent-value",{"id":124,"name":125,"slug":126},322,"Affordability","affordability",{"id":128,"name":129,"slug":130},323,"Buying Tips","buying-tips",{"id":132,"name":133,"slug":134},324,"Downsize","downsize",{"id":136,"name":137,"slug":138},325,"Economy","economy",{"id":140,"name":141,"slug":142},326,"Equity","equity",{"id":144,"name":145,"slug":146},327,"Forecasts","forecasts",{"id":148,"name":149,"slug":150},328,"Selling Tips","selling-tips",{"id":152,"name":153,"slug":154},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":156,"name":157,"slug":158},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]