There are a lot of discussions about renting properties being better than owning properties and vice versa. That discussion is starting to skew towards ownership as rental prices are on the rise.
...rental prices have soared over the years, jumping 2.8% in 2017 alone. And with demand for affordable housing exceeding supply, more than one-quarter of all renters – 11.1 million people in total – spend more than 50 percent of their income on housing.
...and for us New Yorkers the picture doesn't get any prettier. From the interactive map below courtesy of wallethub.com, a lot of upstate New York like Rochester and Buffalo fall at 156 and 165, respectively.
Might be time to plug some roots into the ground if rent prices continue on the path that they are on!