If you’re currently renting, you have probably noticed a hefty increase in your monthly rent. Depending on where you live, rates have increased anywhere from 5-15%!
The Austin Apartment Association reports rental rates have increased in the downtown and UT areas by 7.7 percent in the last year. Larger increases are showing up in just the last three months in north, northwest and southeast Austin, areas typically known for more reasonable rents. Tenants in those parts of town should expect to pay at least 11 percent more than they are now.
If you’re thinking about buying a home and are in a position to do so, now is definitely the time. Instead of investing your money into someone else’s home, why not reap the tax benefits & take advantage of low interest rates and start investing in your own.
Check out Trulia’s “Rent vs. Buy Map” to see how other parts of the country are doing: