Wednesday, August 17, 2022

San Jose ranked fourth among the most expensive metro areas for single-family homes in the United States in the first half of this year.

Mortgage interest rates and rising home prices make it difficult for many families to buy a home in the United States, resulting in increased rental demand.rentMost of the most expensive areas are in sunny states.

According to a recent report released by national real estate brokerage HouseCanary, rentals for single-family homes in the United States rose sharply in the first half of this year. The current average monthly rent is 2,495 yuan, which is 13.4 percent higher. same period last year. Most of the metro areas with the highest rents are located in hotcaliforniaMost metro areas with the lowest fares. are situatedohio,

In the first half of 2022, the most expensive monthly rents for a single-family home are the U.S. rents. Metro areas are:

1. Los Angeles, Long Beach, and Anaheim, California: $4,664

2. San Diego, California, Carlsbad: $4,617

3. Bridgeport, Connecticut, Stanford, Norwalk: $4,352

4. San Jose, California, Sunnyvale, Santa Clara: $4,294

5. Oxner, Calif., Thousand Oaks, Ventura: $4,259

What are the cheapest monthly rents for a single family home in the first half of 2022? Metro areas are:

1. Canton, Ohio, Massillon: $1,314

2. Akron, Ohio: $1,361

3. Wichita, Kansas: $1,397

4. Dayton, Ohio, Catering: $1,412

5. Mobile, Alabama: $1,419

While the pandemic has accelerated Americans away from high-cost coastal cities and into more affordable areas, a July report from real estate website Redfin showed the number of buyers searching for cheap homes in cities such as San Francisco, Los Angeles and New York hit pointed to. a new high.

While moving to a cheaper area may reduce rent or mortgage payments, experts say, there may be some unforeseen costs that can strain the budget.

Bill Parrott, chief executive of Parrot Wealth Management, said, “Losing people or territory is a huge hidden cost, noting that childcare, pet-sitting and other expenses can add up quickly without access to family and friends.

Financial advisor Caleb Pepperde said the cost of traveling to and from smaller cities would also increase depending on the location of the airport or transportation options.

“Before moving to a new city, it’s a good idea to research these types of costs to help you make a decision,” Piperde said.

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