This might be good news if you’re a landlord: A recent survey from FreddieMac reveals that affordability issues remain a top concern for those looking to rent or purchase a home. However, the survey found that 84% of renters (which they call unprecedented) say renting is more affordable than owning AND a majority of renters (62%) say they are satisfied with their current rental experience. Interestingly, 73% of renters feel that minor or no renovations should be made to their rental property – which FreddieMac says is a strong sign that they’re happy with their current rental. Indeed….
“while vast majorities of renters and owners believe their current living situation is the most affordable option, issues of affordability remain pervasive.”
Key Findings:
- 84% believe renting is more affordable than owning.
- 42% of renters paid more than 1/3 of their household income on rent compared to 24% of owners on their mortgage.
- 40% of renters plan to purchase a home and 46% of owners plan to renovate in the next several months.
Click here to read the full report at FreddieMac.com.
