[VIDEO]

Many people are considering whether they should rent or buy. But your monthly rent is higher than your mortgage payment if you bought a home in all of the largest metros by an average of 38%. Rents have also been rapidly rising. But if you are not worried about the cost than you should consider the wealth building factor. Homeowners net worth is over 30x greater than renters. Learn more about what were the deciding factors for people deciding whether to rent or buy.

In a recent press release, Zillow stated that the affordability of the nation’s rental inventory is currently much worse than affordability of the country’s home sale inventory. The release revealed two things:

1. Nationally, renters signing a lease at the end of the second quarter paid 29.5% of their income to rent
2. U.S. home buyers at the end of the second quarter could expect to pay 15.3% of their incomes to a mortgage on the typical home

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