Renters Like Renting Apartments – Glen Allen, VA

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Renters are caught in the housing market’s ultimate Catch-22: The cost of renting is rising, but they can’t afford to buy, either. In a word, they’re stuck. So a majority are choosing to defer the dream of homeownership, a Freddie Mac survey finds. Even though rents in many parts of the country are taking a bigger and bigger bite out of paychecks, about 70% of renters say that renting an apartment is still a hell of a lot more affordable than buying one, according to the survey. And more than half say they will continue to make monthly payments to their landlords over the next three years.
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