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DeDe Forwood - REALTOR® e-PRO®

The Laughton Team with My Home Group

480-818-9391

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Rents Up 36% Since 2005—Mortgage Payments Down 4%

Rents Up 36% Since 2005—Mortgage Payments Down 4%

Many people continue to rent because they think that it’s the more affordable option—and that owning a home is out of their reach. But, as it turns out, rents have seen sharp increases across the country—while the average mortgage payment has actually fallen.

According to a report from CoreLogic, the “typical mortgage payment” (a monthly mortgage payment based on the US median home sale price that incorporates both principal and interest) has decreased four percent since 2005—while the monthly cost to rent a single-family home has increased by 36 percent. Renters are also more cost-burdened than homeowners, with nearly half (46 percent) spending more than 30 percent of their total income on rent (compared to just 27 percent of homeowners).

The Takeaway:
If you’ve been renting as a way to save money, it might be time to rethink your strategy. Rent has been steadily increasing across the US in recent years, and in many cases it’s now less affordable than owning a home. So if you’ve been thinking about purchasing your own home, now is a great time to make a move.

Renting vs Owning a Home: Which Makes More Sense for YOU?
Click here for a free copy of my guide “Does owning a home make more sense than renting?”  Not everyone is cut out for owning. This guide wasn’t written to convince you that buying is better than renting or vice versa. Rather, it’s to help you figure out which makes more sense for you and your particular situation.

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DeDe Forwood

My name is DeDe Forwood, I am a Phoenix Real Estate Agent with The Laughton Team with My Home Group. I traveled for 20 years in the entertainment industry as a Project Manager/ video engineer in major event operations.. After being on the road for so long, becoming a Phoenix Realtor® seemed like the perfect fit for my experience, attention to detail, love of helping people, and my passion for Phoenix! My background in project management and event operations is actually an amazing fit with Phoenix real estate. I'm someone who is both organized AND passionate about all things buying and selling homes in Phoenix.  My area of expertise is the Phoenix historic neighborhood districts, midtown, downtown and the central corridor. LISTING WITH ME, you get the passion of someone who is all about the digital age in real estate. With the tech-savvy experience of a digital marketer,  I offer my clients the cutting edge of technology that changes constantly, attention to detail, professionalism, fairness, honesty, integrity, and enthusiasm. BUYING WITH ME as your buyer's agent, you get every digital advantage to find listings quickly, the energy to go see them quickly. LOOKING TO RENT A PROPERTY?  Let me search for you! We can find the perfect place, together! I've got the passion that only a customer service nerd can have, a love of all things real estate in Phoenix, the project management, and engineer's brain, and the tech-savvy-ness of a digital marketer.  Let's get you HOME!!

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