Renting a median priced three-bedroom home is more affordable than buying a three-bedroom single-family home in the country's largest counties, according to a report by the national real estate data company Attom.
Among counties with populations of at least a million people, Philadelphia and Allegheny Counties, Pennsylvania, are two of the most affordable for renting a three-bedroom home, according to a report Attom published Thursday. In both places, renters need 26% of the average local wages to pay for housing.
New rents have risen faster than home prices over the last year in almost half the country. Even so, across the nation, the median rent for a three-bedroom home is more affordable than the median price of the same sized home in 210 of the 222 counties Attom analyzed. The company included counties with populations of at least 100,000 people with sufficient sales data from January through November 2022.
