Historically the Percentage of your income needed to afford a home vs. renting was a much closer margin.
Making renting make sense.
Now... Renting will cost you 30.1% of your income compared to buying a median home at 15.3% of your income.
Either way you're paying a mortgage... why not have it be yours?
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Jim Starwalt, Broker Owner
Better Homes and Gardens Real Estate Star Homes
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2015 Illinois Home Buying - Renting vs. Buying