60% of Tenants Had Their Rents Increase This Past Year. Is It Time to Buy?

60% of Tenants Had Their Rents Increase This Past Year. Is It Time to Buy?

Not only have sky-high home prices driven rental demand upward, but many landlords have been trying to recoup the losses they took during the pandemic. In August, Freddie Mac reported that 60% of tenants saw an increase in rent over the past year. If your rent keeps creeping upward, you may reach a point where you can spend less money on a mortgage each month and own a home instead.