With Rents on the Rise, Is Now the Time To Buy?

According to recent data from Realtor.com, median rental prices have reached their highest point ever recorded in many areas across the country.

The report found rents rose by 8.1% from the same time last year. As it notes: Beyond simply recovering to pre-pandemic levels, rents across the country are surging.

Typically, rents fluctuate less than 1% from month to month. In May and June, rents increased by 3.0% and 3.2% from each month to the next.”

If you’re a renter concerned about rising prices, now may be the time to consider purchasing a home.

 

Monthly Rents Are Higher Than Monthly Mortgage Payments

When you weigh your options of whether to buy a home or continue renting, how much you’ll pay each month is likely top of mind. According to the National Association of Realtors (NAR), monthly mortgage payments may rise slightly this year, but they’re still significantly lower than the typical rental payment. 

NAR indicates the latest data on homes closed shows the median monthly mortgage payment is $1,204. By contrast, the median national rent is $1,575 according to the most current data provided by Realtor.com

In other words, buyers who recently purchased a home locked in a monthly payment that is, on average, $371 lower than what renters pay today.

MetroMedian RentRent YY1br Median Rent1br Rent YY2br Median Rent2br Rent YY
SE Florida2,15313.3%1,91311.8%2,48513.0%

Rents are increasing the most in Riverside, CA; Memphis, TN; Tampa, FL; and Phoenix, AZ metro areas – all saw rents grow more than 20% year-over-year in June. Ouch!

With rents continuing to rise across the country, renters should consider if now is the right time to buy. There are multiple benefits to buying sooner rather than later. Talk with the Martin Group, your trusted real estate advisors, so you can make your informed decision. Just text or call 561-339-1779 to schedule your free consultation.

Newest Rentals - Single Family Homes - Palm Beach County Florida

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Use the Quick Links below to search Homes For Rent by City Name, Price Range, or Features in all of Palm Beach County Florida.

Want more info or want to make an appointment to preview a Rental House? Please Call or Text Doug Martin at 561-339-3299 or Jason Martin at 561-624-4544.

 

Search Homes for RENT by City

Newest Listings are shown first. You can modify the search to view your own way. Choose “Rental” and “Residential Property Type” plus choose a “Property Sub Type” to get started.

Featured Cities in Palm Beach County

Boca RatonBoynton Beach
Delray BeachHypoluxo
Juno BeachJupiter
Jupiter Inlet ColonyLake Park
Lake WorthLantana
LoxahatcheeLoxahatchee Groves
ManalapanNorth Palm Beach
Palm BeachPalm Beach Gardens
Palm Beach ShoresPalm Springs
Riviera BeachRoyal Palm Beach
Singer IslandTequesta
WellingtonWest Palm Beach

 

View Homes for RENT by Price

ALL Palm Beach County Beaches MLS Listings
Homes $1,800 – $2,000Homes $2,000 – $2,250
Homes $2,250 – $2,500Homes $2,500 – $2,750
Homes $2,750 – $3,000Homes $3,000 – $3,250
Homes $3,250 – $3,500Homes $3,500 – $3,750
Homes $3,750 – $4,000Homes $4,000 – $4,500
Homes $4,500 – $5,000Homes $5,000 – $5,500
Homes $5,500 – $6,000Homes $6,000 – $7,000
Homes $7,000 – $8,000Homes $8,000 – $10,000
Homes $10,000 – $15,000Homes $15,000 – $25,000
Homes $25,000 – $50,000Homes Above $50,000

 


Search Homes for Rent in the FL Palm Beaches below with the Advanced Rental Search Button and choose your own criteria and change Residential to Rental in drop down menu. Listings may be shown with the Newest ones first.

 

Advanced Rental Searches Your Way 

Advanced Rental Search for Homes, Condos, Townhouses, Villas for RENT Blue Button Image

 

As professional REALTORS®, the Martin Group will gladly assist you in renting, buying or selling residential condos, homes, farms or commercial investment properties.

If you have a property that you would like for us to find tenants for you, please text/ call the Martin Group Real Estate Team today: Doug 561-339-3299 or Jason 561=624-4544. We look forward to working with you.

 

Sign Up for Exclusive “New Listings Account

Stay informed as new listings are entered into our local MLS system by signing up for a FREE EXCLUSIVE membership account below with blue tab. The Beaches MLS is our local system for the Multiple Listing Service. Thousands of listings are in their real estate database.

With the “New Listings Account“, create and save the searches of your favorite homes to view later or to compare with other homes. We’ll keep you up to date by notifying you when similar new listings hit the market. Timely reports with the latest home values and trends will be sent  to you.

Click below to create your personalized member account to save your favorite homes from your searches. Automatic updates on homes that match your chosen search criteria are easy to view.

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Call or Text Us:

Doug Martin 561-339-3299
Jason Martin 561-624-4544
Office 561-339-1779

Or Email the Martin Group Real Estate TeamProperty