Tag Archives: renting

Renters Catch a Break as Costs Drop for Third Straight Month in December

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Rising supply has led to rising vacancies, motivating landlords to lower asking rents, which fell 1% from a year earlier.

Seattle, WA – January 08, 2024 (BUSINESS WIRE) (NASDAQ: RDFN) The median U.S. asking rent fell 0.8% year over year in December to $1,964, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. That’s the third consecutive decline, following a 2.1% annual drop in November—which was the largest since 2020—and a 0.3% dip in October.

December rents were little changed from the prior month (-0.2%).

The rental market has lost steam largely due to a jump in supply fueled by a building boom in recent years. That has left many landlords struggling to fill vacancies, motivating some of them to drop asking rents. Some landlords are also offering one-time concessions like a free month’s rent or reduced parking costs to attract renters. This means the prices renters are paying in total are likely coming down faster than they appear to be in the data.

Other reasons rents have cooled include economic uncertainty, slowing household formation, and affordability challenges, as rents are still only 4.4% below their record high. Additionally, there are new signs that the economy is slowing; Americans are starting to tighten their belts, which could be contributing to the decline in rents.

“High supply—more so than low demand—is driving rent declines. But if mortgage rates continue to drop at a fast clip in 2024, slowing rental demand could become a major driver of rent declines,” said Redfin Economics Research Lead Chen Zhao. “That’s because more Americans would ditch the rental market to become homeowners, leaving landlords with even more vacancies.”

There are more newly built and under-construction apartments in the U.S. than there were a year ago; the number of completed apartments is near the highest level in more than 30 years, and the number under construction is just shy of its record high.

Because renters have an increasing number of buildings to choose from, vacancies have climbed. The rental vacancy rate rose to 6.6% in the third quarter—the most recent period for which data is available—the highest level since the first quarter of 2021.

Rents Rise in the Midwest and Northeast, Fall in the West and South

The median asking rent in the Midwest rose 3.7% year over year to $1,434. Rents also rose in the Northeast, climbing 1.7% to $2,439. Meanwhile, rents fell 1% year over year to $1,632 in the South, and declined 0.6% to $2,346 in the West.

Rents are likely holding up best in the Midwest and Northeast because those regions haven’t been building as much as the South and West, meaning some landlords have less incentive to drop prices because they’re not dealing with as many vacancies.

“With rents falling and vacancies rising, now is a good time to shop around or try to renegotiate your rent if your lease is up—especially if you’re a renter in the South or West,” Zhao said.

To view the full report, including charts and methodology, please visit:
https://www.redfin.com/news/redfin-rental-report-december-2023

About Redfin

Redfin (www.redfin.com) is a technology-powered real estate company. We help people find a place to live with brokerage, rentals, lending, title insurance, and renovations services. We also run the country’s #1 real estate brokerage site. Our home-buying customers see homes first with same day tours, and our lending and title services help them close quickly. Customers selling a home in certain markets can have our renovations crew fix up their home to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Customers who buy and sell with Redfin pay a 1% listing fee, subject to minimums, less than half of what brokerages commonly charge. Since launching in 2006, we’ve saved customers more than $1.5 billion in commissions. We serve more than 100 markets across the U.S. and Canada and employ over 4,000 people.

For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin’s press release distribution list, email press@redfin.com. To view Redfin’s press center, click here.

Contacts

Redfin Journalist Services:
Kenneth Applewhaite, 206-414-8880
press@redfin.com

Realtor.com® December Rental Report: Renting Costs Nearly $800 Less Per Month Than Buying

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The top markets with the largest savings for renters include: Austin, Texas (121.3% savings), San Francisco (97.0% savings) and Seattle (86.1% savings)

Santa Clara, CA – Jan. 26, 2023 (PRNewswire) For many Americans hoping to make the transition to first-time buying in 2023, renting will likely offer relatively more affordable options in the months ahead, according to the Realtor.com® Monthly Rental Report released today. On average across the 50 largest U.S. metros in December, a typical renter faced a 41.4% ($792) lower monthly payment than a starter homeowner.1

The markets with the largest monthly savings for renters, ranked by the percent difference between monthly mortgage payments and asking rents, include:

  1. Austin, Texas (121.3% or $2,013)
  2. San Francisco, Calif. (97.0% or $2,855)
  3. Seattle, Wash. (86.1% or $1,772)
  4. San Jose, Calif. (83.0% or $2,621)
  5. San Diego, Calif. (77.2% or $2,085)
  6. Los Angeles, Calif. (74.9% or $2,150)
  7. Boston, Mass. (73.1% or $2,097)
  8. Portland, Ore. (71.2% or $1,246)
  9. Phoenix, Ariz. (70.1% or $1,116)
  10. Sacramento, Calif (67.7% or $1,241)

“Despite the fact that renting will likely be cheaper than buying in 2023, rental affordability will remain a key issue throughout the year. We expect rents will keep hitting new highs, driven by factors including still-low vacancy rates, lagging new construction and demand from would-be first-time buyers,” said Realtor.com® Chief Economist Danielle Hale. “For prospective first-time buyers, the key consideration when figuring out whether to buy or rent is how long you plan to live in your next home. If you’re looking for flexibility to move in the shorter term, renting may be your best bet, and still offer opportunities to save if you’re able to compromise on factors like proximity to the downtown area. Whereas buying could be the better option if you’re planning to stay put for at least five years. Market conditions will play a role, but ultimately the timing comes down to your personal situation, and tools like the Realtor.com® Rent vs. Buy Calculator can help you organize and make sense of the many considerations.”

In December, renters faced lower monthly costs than first-time buyers, on average across the 50 largest U.S. metros and in the vast majority (45) of these markets. Additionally, the gap between the cost of renting and buying a similar-sized home widened significantly compared to December 2021. While this was partly attributed to the slowdown in rent growth seen over the past year, December trends indicate that the increase in relative rental affordability was primarily driven by skyrocketing mortgage rates.

  • In December, the U.S. median rental price, $1,712, was $792 lower than a typical monthly starter home payment. Just 12 months ago, the difference was -$174.
  • The widening gap between rents and first-time buying costs is largely attributed to higher starter homeownership monthly costs ($2,504), which grew 37.4% year-over-year in December – more than 10 times faster than rents (+3.2%) during the same period. Furthermore, despite the slowdown in year-over-year rent growth seen in recent months, typical asking rents ended the year up an average of 11.6% year-over-year.
  • Renting was more affordable than first-time buying in 45 of the 50 largest markets in December, up from 30 markets at the same time last year. In the top 10 metros that favored renting over first-time buying (see table below), monthly starter homeownership costs were an average of 82.2% (+$1,920) higher than rents.
  • Just five markets favored starter homeownership over renting in December, in terms of offering lower monthly costs; these were: Memphis, Tenn. (-32.7%), Pittsburgh (-24.1%), Birmingham, Ala. (-23.5%), St. Louis, Mo. (-6.9%) and Baltimore, Md. (-3.7%).

December & Full-Year 2022 Rental Metrics – National

Unit SizeDec. 2022
Median Rent		Dec. 2022 Median Rent,
YY Change		Full-Year 2022 Avg. YY
Rent Change
Overall$1,7123.2 %11.6 %
Studio$1,4484.7 %13.2 %
1-bed$1,5892.9 %11.3 %
2-bed$1,8742.4 %10.9 %

December & Full-Year 2022 Rental Metrics – 50 Largest U.S. Metro Areas
Ranked by % difference between rents and monthly starter home payments

RankMetro AreaDecember 2022Full-
Year
2022
Avg.
Buy-Rent
Difference
(%)		Buy-Rent
Difference
($)		Overall
Median
Rent (0-2
beds)		Overall
RentYY		Monthly
Starter
Home
Cost		Monthly
Starter
Home
Cost YY		Overall
Rent YY
1Austin-Round Rock, Texas121.3 %$2,013$1,659-0.7 %$3,67231.1 %9.2 %
2San Francisco-Oakland-Hayward, Calif.97.0 %$2,855$2,9433.4 %$5,79834.7 %9.3 %
3Seattle-Tacoma-Bellevue, Wash.86.1 %$1,772$2,0591.2 %$3,83157.3 %11.0 %
4San Jose-Sunnyvale-Santa Clara, Calif.83.0 %$2,621$3,1565.9 %$5,77739.6 %13.7 %
5San Diego-Carlsbad, Calif.77.2 %$2,085$2,7021.2 %$4,78751.3 %15.7 %
6Los Angeles-Long Beach-Anaheim, Calif.74.9 %$2,150$2,8702.3 %$5,02037.7 %13.0 %
7Boston-Cambridge-Newton, Mass.-N.H.73.1 %$2,097$2,8686.4 %$4,96532.8 %19.8 %
8Portland-Vancouver-Hillsboro, Ore.-Wash.71.2 %$1,246$1,7504.7 %$2,99634.8 %9.1 %
9Phoenix-Mesa-Scottsdale, Ariz.70.1 %$1,116$1,592-3.3 %$2,70836.6 %10.4 %
10Sacramento–Roseville–Arden-Arcade, Calif.67.7 %$1,241$1,834-4.2 %$3,07532.9 %5.2 %
11Rochester, N.Y.66.4 %$887$1,3354.5 %$2,22241.7 %8.7 %
12Milwaukee-Waukesha-West Allis, Wisc.66.1 %$1,024$1,5496.7 %$2,57371.5 %8.6 %
13Denver-Aurora-Lakewood, Colo.63.5 %$1,207$1,9020.8 %$3,10927.2 %9.0 %
14Houston-The Woodlands-Sugar Land, Texas62.4 %$853$1,3681.7 %$2,22131.7 %8.7 %
15Dallas-Fort Worth-Arlington, Texas57.2 %$895$1,5643.4 %$2,45927.1 %14.1 %
16Nashville-Davidson–Murfreesboro–Franklin, Tenn.57.0 %$913$1,6022.5 %$2,51532.0 %14.3 %
17New York-Newark-Jersey City, N.Y.-N.J.-Penn.57.0 %$1,537$2,69812.2 %$4,23510.2 %15.4 %
18Columbus, Ohio55.3 %$684$1,2375.4 %$1,92134.4 %9.4 %
19Las Vegas-Henderson-Paradise, Nev.54.6 %$817$1,495-4.5 %$2,31234.0 %11.9 %
20San Antonio-New Braunfels, Texas53.4 %$691$1,2943.6 %$1,98541.1 %13.7 %
21New Orleans-Metairie, La.52.2 %$739$1,417-0.7 %$2,15611.7 %7.7 %
22Minneapolis-St. Paul-Bloomington, Minn.-Wisc.50.8 %$776$1,5272.5 %$2,30337.9 %3.8 %
23Washington-Arlington-Alexandria, DC-Va.-Md.-W. Va.50.7 %$1,066$2,1033.7 %$3,16935.0 %9.3 %
24Riverside-San Bernardino-Ontario, Calif.45.5 %$927$2,037-6.0 %$2,96450.7 %6.0 %
25Jacksonville, Fla.44.4 %$657$1,4791.6 %$2,13660.8 %13.3 %
26Raleigh, N.C.42.0 %$646$1,5372.3 %$2,18329.6 %14.0 %
27Cincinnati, Ohio-Ky.-Ind.37.4 %$473$1,2657.0 %$1,73842.2 %8.5 %
28Providence-Warwick, R.I.-Mass.37.3 %$771$2,0676.7 %$2,83839.2 %17.3 %
29Buffalo-Cheektowaga-Niagara Falls, N.Y.37.2 %$442$1,1882.3 %$1,63025.5 %6.7 %
30Richmond, Va.35.6 %$487$1,3686.2 %$1,85538.3 %12.1 %
31Atlanta-Sandy Springs-Roswell, Ga.34.0 %$567$1,669-1.7 %$2,23635.6 %14.9 %
32Tampa-St. Petersburg-Clearwater, Fla.32.2 %$567$1,760-4.3 %$2,32750.7 %14.4 %
33Miami-Fort Lauderdale-West Palm Beach, Fla.31.5 %$846$2,6824.7 %$3,52840.3 %29.9 %
34Philadelphia-Camden-Wilmington, Penn.-N.J.-Del.-M.D.27.4 %$465$1,6970.4 %$2,16236.5 %6.8 %
35Oklahoma City, Okla.25.8 %$245$9509.6 %$1,19525.8 %11.2 %
36Hartford-West Hartford-East Hartford, Conn.24.3 %$421$1,7307.5 %$2,15137.8 %10.2 %
37Louisville/Jefferson County, Ky.-Ind.22.8 %$250$1,0974.3 %$1,34746.9 %10.4 %
38Charlotte-Concord-Gastonia, N.C.-S.C.21.5 %$343$1,5922.3 %$1,93545.9 %12.9 %
39Chicago-Naperville-Elgin, Ill.-Ind.-Wisc.18.2 %$359$1,96817.5 %$2,32733.7 %16.5 %
40Virginia Beach-Norfolk-Newport News, Va.-N.C.15.2 %$218$1,4322.4 %$1,65049.6 %9.0 %
41Detroit-Warren-Dearborn, Mich.13.5 %$166$1,2275.8 %$1,39330.4 %6.7 %
42Cleveland-Elyria, Ohio13.1 %$151$1,1525.0 %$1,30332.8 %8.2 %
43Orlando-Kissimmee-Sanford, Fla.11.7 %$212$1,8124.0 %$2,02453.8 %20.5 %
44Kansas City, Mo.-Kan.10.9 %$140$1,2888.0 %$1,42839.2 %10.5 %
45Indianapolis-Carmel-Anderson, Ind.9.9 %$125$1,2699.4 %$1,39444.0 %10.2 %
46Baltimore-Columbia-Towson, Md.-3.7 %-$65$1,7492.6 %$1,68425.4 %8.4 %
47St. Louis, Mo.-Ill.-6.9 %-$83$1,2112.7 %$1,12834.1 %7.1 %
48Birmingham-Hoover, Ala.-23.5 %-$270$1,1493.6 %$87919.1 %7.8 %
49Pittsburgh, Penn.-24.1 %-$348$1,4454.5 %$1,09721.2 %7.2 %
50Memphis, Tenn.-Miss.-Ark.-32.7 %-$411$1,2580.3 %$84758.3 %12.4 %

Methodology
Rental data as of December 2022 for units advertised as for-rent on Realtor.com®. Rental units include apartment communities as well as private rentals (condos, townhomes, single-family homes). All units were studio, 1-bedroom, or 2-bedroom units. National rents were calculated by averaging the medians of the 50 largest U.S. metropolitan areas, as defined by the Office of Management and Budget (OMB). Realtor.com® began publishing regular monthly rental trends reports in October 2020 with data history going back to March 2019.

The monthly cost of buying a starter home, also referred to in this release as first-time buying, was calculated by averaging the December median listing prices of studio, 1-bed, and 2-bed homes, weighted by the number of listings, in each housing market (average across the 50 largest U.S. metros: $318,697). Monthly buying costs assume a 7% down payment, with a mortgage rate of 6.36%, and include taxes, insurance and HOA fees.

About Realtor.com®
Realtor.com® is an open real estate marketplace built for everyone. Realtor.com® pioneered the world of digital real estate more than 25 years ago. Today, through its website and mobile apps, Realtor.com® is a trusted guide for consumers, empowering more people to find their way home by breaking down barriers, helping them make the right connections, and creating confidence through expert insights and guidance. For professionals, Realtor.com® is a trusted partner for business growth, offering consumer connections and branding solutions that help them succeed in today’s on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. For more information, visit Realtor.com®.

Media Contact
press@realtor.com 

1 See methodology for rent vs. buy calculation details.

SOURCE Realtor.com

Renting More Affordable Than Homeownership Across Most Of The Nation In 2023

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Rents Rising Faster Than Home Prices in Almost Half the U.S.; Both Renting and Owning Unaffordable for Average Workers Throughout the Country; Renting Still More Manageable in Vast Majority of Markets

Irvine, CA – Jan. 19, 2023 (PRNewswire) ATTOM, a leading curator of real estate data nationwide for land and property data, today released its 2023 Rental Affordability Report, which shows that the average three-bedroom rent is more affordable than owning a comparably sized median-priced home in 210, or 95 percent, of the 222 U.S. counties analyzed for the report.

Both renting and owning a three-bedroom home are significant financial burdens for households around the U.S., consuming more than one-third of average wages in most major housing markets. But average rents still require a significantly smaller portion of wages than major home-ownership expenses on three-bedroom properties.

That gap has emerged even as rents have risen faster than home prices over the past year in roughly half the nation.

The analysis for this report incorporated 2023 rental prices and 2022 home prices, collected from ATTOM’s nationwide property database, as well as publicly recorded sales deed data licensed by ATTOM (see full methodology below). Those two data sources were combined with average wage figures from the Bureau of Labor Statistics (see full methodology below).

“What a difference a year makes,” said Rick Sharga, executive vice president of market intelligence for ATTOM. “Last year our study concluded that it was more affordable to own than to rent in 60 percent of the markets analyzed. But with mortgage rates doubling, monthly payments for new homeowners rose by 45-50 percent compared to a year ago, even though home price appreciation has slowed down dramatically. This has made renter more affordable in the majority of markets, despite rental rates continuing to rise over the past year.”

The report shows that renting is more affordable in most of the country following a year of mixed market patterns around the country, flowing from a rapidly changing housing market. Average three-bedroom rents climbed more than median sales prices on single-family homes in 46 percent of the markets analyzed. That happened at a time when a decade-long run of price spikes slowed considerably across the U.S., amid rising mortgage rates, high inflation, a declining stock market and other factors that cut into what potential buyers could afford.

Still, rents didn’t go up fast enough to keep them from being the more financially viable option for workers earning average local wages in most markets. Average rents commonly consume a smaller portion of average wages than major home ownership by anywhere from 5 to 30 percentage points.

The patterns hold throughout the country, but are most pronounced in the most populous urban markets.

Rents rising faster than home prices in half the nation
Average rents for three-bedroom homes are increasing more than median prices for single-family homes in 103 of the 222 counties analyzed in this report (46 percent). Counties were included in the report if they had a population of 100,000 or more, at least 100 sales from January through November of 2022, and sufficient data.

The most populous counties where three-bedroom rents are rising faster than median sales prices for single-family homes are Cook County (Chicago), IL; San Diego County, CA; Orange County, CA (outside Los Angeles); Kings County (Brooklyn), NY, and Miami-Dade County, FL.

The largest 119 counties where sales for single-family homes are rising faster than rents are Los Angeles County, CA; Harris County (Houston), TX; Maricopa County (Phoenix), AZ; Dallas County, TX, and Clark County (Las Vegas), NV.

Widest affordability gaps between renting and owning in most populous counties
Renting the average three-bedroom home is more affordable compared to owning a single-family home in the nation’s largest counties, with populations of at least 1 million.

Among 46 counties with a population of at least 1 million included in the report, the biggest gaps are in Honolulu, HI (average three-bedroom rents consume 66 percent of average local wages while single-family home ownership expenses consumes 140 percent); Alameda County (Oakland), CA (47 percent for renting versus 110 percent for owning); Santa Clara County (San Jose), CA (28 percent versus 83 percent); Orange County, CA (outside Los Angeles) (73 percent versus 125 percent) and Contra Costa County, CA (outside San Francisco) (49 percent versus 90 percent).

The only county with a population of more than 1 million where it is more affordable to buy than rent is Cook County (Chicago), IL (average rents consume 40 percent of average local wages while home ownership consumes 38 percent).

The biggest gaps among counties in the report with populations of less than 1 million are in San Mateo County, CA (outside San Francisco) (average three-bedroom rents consume 39 percent of average local wages while single-family home ownership expenses consumes 103 percent); Alexandria City/County, VA (outside Washington, DC) (46 percent versus 101 percent); Loudoun County, VA (outside Washington, DC) (44 percent versus 97 percent); San Francisco County (41 percent versus 92 percent) and Utah County (Provo), UT (37 percent versus 84 percent).

Renting three-bedroom homes difficult for average wage earners, but most affordable in South and Midwest
The report shows that renting the typical three-bedroom property requires more than one-third of average local wages in 174 of the 222 counties analyzed for the report (78 percent).

Among the 48 markets where average three-bedroom rents require less than one-third of average local wages, 44 are in the Midwest and South.

The most affordable counties for renting a 3-bedroom property are Jefferson County (Birmingham), AL (20 percent of average local wages needed to rent); Pulaski County (Little Rock), AR (23 percent); Cuyahoga County (Cleveland), OH (23 percent); Wayne County (Detroit), MI (24 percent) and Summit County (Akron), OH (25 percent).

Aside from Cuyahoga and Wayne counties, the most affordable counties for renting, among those with a population of at least 1 million, are St. Louis County, MO (25 percent of average local wages needed to rent); Allegheny County (Pittsburgh), PA (26 percent) and Philadelphia County, PA (26 percent).

The least affordable counties for renting are spread through the South, Northeast and West, including Kings County (Brooklyn), NY (126 percent of average local wages needed to rent); Indian River County (Vero Beach), FL (100 percent); Charlotte County, FL (outside Fort Myers) (84 percent); Monterey County, CA (outside San Francisco) (82 percent) and Riverside County CA (outside Los Angeles) (77 percent).

Aside from Kings and Riverside counties, the least affordable for renting among counties with a population of at least 1 million are Orange County, CA (outside Los Angeles) (73 percent of average local wages needed to rent); Palm Beach County (West Palm Beach), FL (71 percent) and Westchester County, NY (outside New York City) (69 percent).

South and Midwest also have most-affordable home ownership markets; least affordable are in West and Northeast
The report shows that major expenses on a median-priced single-family home requires more than one-third of average local wages (assuming a 20 percent down payment) in 206 of the 222 counties analyzed for the report (93 percent).

The most affordable markets for owning are Wayne County (Detroit), MI (24.1 percent of average local wages needed to own); Montgomery County, AL (27.6 percent); Cuyahoga County (Cleveland), OH (27.7 percent); Richmond County (Augusta), GA (28.7 percent) and Allegheny County (Pittsburgh), PA (29.2 percent).

Aside from Wayne, Cuyahoga and Allegheny counties, the most affordable for owning among counties with a population of at least 1 million are St. Louis County, MO (32.9 percent of average local wages needed to own) and Cook County (Chicago), IL (38.3 percent).

The least affordable markets for owning among those analyzed are Honolulu County, HI (139.8 percent of average local wages needed to own); Kings County (Brooklyn), NY (125.9 percent); Orange County, CA (outside Los Angeles) (124.7 percent); Monterey County, CA (outside San Francisco) (117.3 percent) and Alameda County (Oakland), CA (110.1 percent).

Aside from Honolulu, Kings, Orange and Alameda counties, the least affordable county among others with a population of at least 1 million is Queens County, NY (102.6 percent of average local wages needed to own).

Rents growing faster that wages in almost three-quarters markets 
Average fair-market rents are increasing more than average local wages in 156 of the 222 counties analyzed in the report (70 percent), including Los Angeles County, CA; Cook County (Chicago), IL; Harris County (Houston), TX; San Diego County, CA, and Orange County, CA (outside Los Angeles).

Average local wages are growing faster than average rents in 66 of the 222 counties in the report (30 percent), including Maricopa County (Phoenix), AZ; Dallas County, TX; Clark County (Las Vegas), NV; Tarrant County (Fort Worth), TX, and Hillsborough County (Tampa), FL.

Home prices rising faster than wages in more than 90 percent of nation 
Median single-family home prices are rising faster than average weekly wages in 207 of the 222 counties analyzed in the report (93 percent), including Los Angeles County, CA; Harris County (Houston), TX; Maricopa County (Phoenix), AZ; San Diego County, CA, and Orange County, CA (outside Los Angeles).

Average weekly wages are rising faster than median home prices in just 15 of the 222 counties in the report (7 percent), including Cook County (Chicago), IL; Cuyahoga County (Cleveland), OH; Westchester County, NY (outside New York City); Washington, D.C., and Jefferson County (Birmingham), AL.

Methodology 
For this report, ATTOM looked at January-November (YTD) 2022 single-family home price data from ATTOM’s publicly recorded sales deed data, as well as 3-bedroom average rental data for 2023, collected and licensed by ATTOM. This data was then analyzed for U.S. counties with a population of 100,000 or more and sufficient home price and rental rate data. The analysis also incorporated second-quarter 2022 average weekly wage data from the Bureau of Labor Statistics (most recent available).

Rental affordability represents the average fair market rent for a three-bedroom property as a percentage of the average monthly wage (based on average weekly wages). Home-buying affordability represents the monthly house payment for a single-family median-priced home (including mortgage, based on a 20 percent down payment, plus property tax, homeowner’s insurance and private mortgage insurance) as a percentage of the average monthly wage.About ATTOM

ATTOM provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation’s population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the real estate data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 30TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, property data APIs, real estate market trends, property reports and more. Also, introducing our newest innovative solution, that offers immediate access and streamlines data management – ATTOM Cloud.

Media Contact:
Christine Stricker 
949.748.8428 
christine.stricker@attomdata.com 

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