Cost of homeownership

Homeownership is cheaper than renting in 57% of U.S. counties, especially in the Midwest and South, but high upfront costs keep many renters from buying. Costs like inspection fees, taxes, and maintenance add nearly $16,000 annually to ownership expenses. Rising home prices outpace rent increases in most counties, with many spending over a third of income on housing. Wage growth generally outpaces...