Report: It’s Cheaper To Rent A House Than Own One In Sacramento

A new report is telling us the current cost of owning vs. renting here in Sacramento. A new Urban Institute report says that it’s cheaper to rent a house than own one in Sacramento right now.

By Doug Lazy on December 5, 2017
RICHMOND, CA - JUNE 15: A "for rent" sign is posted in front of a house on June 15, 2012 in Richmond, California. According to a report by Harvard University's Joint Center for Housing Studies, the tepid real estate market could see a turnaround with the price of rental properties surging and vacancies dropping from 10.6 percent in 2009 to 9.5 percent last year, the lowest level since 2002. (Photo by Justin Sullivan/Getty Images)
(Photo by Justin Sullivan/Getty Images)

A new report is telling us the current cost of owning vs. renting here in Sacramento…

SacBee.com says that a new Urban Institute report says that it’s cheaper to rent a house than own one in Sacramento right now.

From the article:

“Monthly mortgage payments in Sacramento, El Dorado, Placer and Yolo counties will eat up 32.9 percent of a median family income after a 3.5 percent down payment, the report found, while renting a three-bedroom house in those counties means giving up 26.39 percent of one’s paycheck.”

Read more on the report HERE

Does the new report about renting vs owning here in Sacramento surprise you?

 

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