Freddie Mac headquartersMCLEAN, VA–A large and growing population of renters believe renting is a more affordable option than owning, according to Freddie Mac's research.
Even though a lot of those same renters feel the effects of rising housing costs, they believe renting is the most affordable choice and are satisfied with their current situation.
According to the survey, 78% of renters believe renting is more affordable than owning – up 11 points from February 2018. This is the case even as 66% of renters, employed in a primary job market, such as healthcare and education, report difficulty in affording their rent at some point over the past two years. The perception about the affordability of renting was consistent across generations – millennials, Generation Xers and baby boomers all felt that renting is cheaper than owning.
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