Skip To Content

Year-Over-Year Rental Prices on the Rise

Year-Over-Year Rental Prices on the Rise | MyKCM

Looking ahead, the next 12 months show strong for homeownership.

If you’re currently renting, this may be a great time to think about making a jump into homeownership while mortgage rates are low.

As noted in the National Rent Report,

“the national rent index increased by 1.4 percent year-over-year.”

With average rents on the rise, this year-over-year increase may not sound like much, but it can add up – fast. The math on how much extra it will cost you over time surely doesn’t lie.

Here’s an example: On a $1,500 rental payment, an increase of 1.4% adds an additional $21 dollars per month to your payment. When multiplied by the twelve months in a year, it’s a $252 overall annual increase. The price continues to multiply when you rent year after year, as rental prices rise.

History shows how average rental prices have been increasing each year, and there doesn’t seem to be much end in sight. Here’s a look at how rents have grown since 2012 alone:Year-Over-Year Rental Prices on the Rise | MyKCMWhy not lock down your monthly housing expense, and at the same time build additional net worth for you and your family? If you’re thinking about buying a home, consider the financial benefits of what homeownership can do for you, especially while the market conditions are strong and current mortgage rates are low.

Bottom Line

With average rents continuing to rise, now may be a great time to stabilize your monthly payment by becoming a homeowner and locking into a low mortgage rate. Let’s get together to discuss how taking advantage of the current market conditions might work for you.


If you have any questions about the buying or selling process, OUR TEAM CAN HELP! Call or text me today!!!!

Read Our Client Reviews: CLICK HERE

ADDITIONAL RESOURCES

  • Buyer Resources
    • Search For Homes: CLICK HERE
    • Virtual Home Buying Program: CLICK HERE
    • FREE Home Buyer Webinar: CLICK HERE (Mistakes to Avoid When Buying a Home!)
    • Ask about our credit repair program!
  • Seller Resources
    • FREE Instant Access To Your Home Value: CLICK HERE
    • FREE E-Book “Protecting Your Equity”: CLICK HERE (Learn the secrets to selling your home for MORE MONEY in LESS Time)
    • Home Sale Concierge Program: CLICK HERE

Leave a Reply

You must be logged in to post a comment.