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Renters Pay More Than Homeowners
Published 2 days, 13 hours ago
Description
New data reveals private renters—especially newcomers—are paying a crushing 34% of their income on rent, far outpacing homeowners, whose housing costs drop as income rises. Even long-term private renters spend over 28%, while social housing tenants at 26.5% still lag behind homeowners, who typically spend just 23%—showing owning a home offers a financial advantage over renting, especially early in your housing journey.
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