Buying a home

Top Priciest Markets for Renters

bungalow

If you like making the landlord’s mortgage payment and increasing that person’s net worth, keep paying rent. According to Zumper, a national apartment rental site, the Washington DC market is the fourth priciest rental market in the country. The average rental price for a one-bedroom apartment in the DC area is $2,050. Yowza!

Here are the Top 10 priciest markets:

  1. San Francisco: $3,350
  2. New York: $3,000
  3. Boston: $2,330
  4. Washington, D.C.: $2,050
  5. Chicago: $1,750
  6. Miami: $1,700
  7. Los Angeles: $1,690
  8. Seattle: $1,610
  9. San Diego: $1,400
  10. Philadelphia: $1,400

These days you can purchase a home with as little as 3% down. Interest rates are hovering around 4%. With low down payments and low interest rates, that monthly rent is more than a mortgage payment. So what are you waiting for? It’s time to put you and your pocketbook first.

If you’d like to discuss the home buying process and your specific situation please give me a call at 703-963-0142. I’m here to help.

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