3 charts that show why renters struggle to become homeowners
Data from NLIHC’s annual Out of Reach report shows in no uncertain terms why making the jump from renting to owning has been so tough.
Renters
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Bilt raises $250M to expand into mortgages, with backing from UWM
Bilt, which operates a loyalty program and credit card that converts rent payments into points, has secured a new funding round led by General Catalyst and GID.
RentSpree partners with Hive MLS to expand access in Southeast
The new rental tools integration will be available at no cost to Hive MLS subscribers in Georgia and the Carolinas.
Comfortable city living usually requires a six-figure salary
Nine of the top 10 cities where homeowners need the highest incomes are located on the West Coast or in the Pacific region.
These suburbs saw the largest increases in renters during the pandemic
A Point2Homes study found that a number of suburbs experienced significant shifts in renter rates from before and after the pandemic.
Florida’s single-family rental market is resilient, but not without risk
Florida’s single-family rental market is impacted by a persistent shortage of housing inventory.
Rocket plays the long game with its renter rewards program
The recently announced RocketRentRewards program from Rocket Mortgage — which the company says is the homeownership industry’s first offer to provide closing cost credits for renters — allows homebuyers who use Rocket as their lender to earn 10% back on their last 12 months of rental payments.
Housing inventory is up, but so are unsold listings. Are renters to blame?
Rising housing inventory levels in 2024 may not be the positive sign of market health that they appear to be, according to Redfin data.
New apartment construction hasn’t lowered rents in many areas
Redfin reported a 18-month high in asking rent prices for new construction apartments. Can low-income workers keep up in 2025?