Raleigh-Cary Rent Grow Fastest in Nation

Rents of single family homes in Raleigh and  Cary and across Wake County are up nearly 8% year over year in 2015 making it one of the fastest growing in the nation! Today the cost of renting a single family home in Raleigh will generally going to exceed that actual total monthly payment of a low or no money down 30 year fixed rate mortgage by about 15 -25%! While that may be good for investors looking to add cash-flowing real estate to their portfolio, renting is one of the worst ways to grow personal wealth. Yet according to the National Association of Realtors® who reported that among 2014 buyers of primary residences, 33 percent were first-timers, whereas the historical average has been 40 percent for this group.

Survey reveals Americans’ top investment choice: Real estate

A recent survey by BankRate.com reveals that despite of the past decades crash in real estate, an overwhelming 27% of Americans viewed Real Estate as the BEST option for their cash, followed by 23% favoring cash, with the stock market following that in a very distant third place at a meager 17%!

Real Estate top choice for investing cash
The crash in housing prices that walloped the economy over the past decade no longer seems to haunt Americans as it did during the recession. For the first time in three years, real estate was the most popular investment option in a survey that accompanied Bankrate’s Financial Security Index.

Raleigh ranks #5 in Wallet-Hubs 2015’s Large City Best and Worst Cities for First-Time Home Buyers

Historically, when rents push within 85% of the cost of owning that same home, renters tend to fire their landlord in favor of building wealth for themselves instead of their landlord. But in spite of historically low mortgage rates and stable home prices across Wake County in all prices, today’s would-be first-time-home-buyers remain skeptical.

Source: WalletHub

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This article was written by ricardocobos

Since relocating from Northern Michigan in 2007 I have lived in Garner (27529) with my wife Melanie and our four children. I am a local market expert in southern Wake County in the following communities: Garner (27529), Fuquay-Varina (27526), Holly-Springs (27540), Apex (27502), and Raleigh (27603) which spans from downtown Raleigh to Willow Spring including Lake Wheeler. Call or email me, I’m here to help! Ricardo Cobos (919) 526-0183