Found 6 blog entries tagged as Renters.

Nearly 60% of Renters Plan to Buy a Home

The Realtor.com August 2025 Rental Report shows that U.S. rents have fallen for 25 consecutive months, with the median asking rent across the 50 largest metros at $1,713, down 2.2% year-over-year. While rents remain 17% higher than pre-pandemic levels, they are still 2.6% below their August 2022 peak. Nearly 60% of renters still plan to buy homes, with half expecting to purchase within one to two years.

  • Rent growth is below the 2017–2019 average of 3.3%, showing a cooling market.

  • Rents declined across all unit sizes:

    • Studios: $1,430, ↓ 1.7%

    • 1-bedrooms $1,593, ↓ 2.1%

    • 2-bedrooms $1,897, ↓ 2.2%

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The Buy Now vs. Wait Calculator

Just in time for National Homeownership Month, MGIC’s Buy Now vs. Wait Calculator gives first-time homebuyers a clear comparison of the financial impact of buying now versus waiting to save for a 20% down payment.  Waiting might lower your future mortgage payment, but rent doesn’t build equity — and there’s no guarantee rates, prices, or inventory will improve. This tool gives you an instant, detailed breakdown to help you make a confident decision.

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Get Rewarded for Renting

Rocket Mortgage has introduced a new initiative, Rocket Rent Rewards, aimed at assisting renters in transitioning to homeownership by offering up to $5,000 toward closing costs. This program allows eligible homebuyers to receive a credit equivalent to 10% of their total rent payments over the past year when they secure a mortgage through Rocket Mortgage.

  • Eligibility: Renters who have consistently made payments over the last 12 months finance a home through Rocket Mortgage.

  • Benefit Calculation: 10% of the total rent paid in the previous year, up to $5,000.

Ralph’s Take

This is a strategic way to make homeownership a little more accessible for renters. Consistently…

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Croton-on-Hudson enacts “Good Cause Eviction”

The Village of Croton-on-Hudson has adopted a "Good Cause Eviction" law aimed at strengthening tenant rights. This legislation prohibits landlords from evicting tenants or refusing lease renewals without valid reasons, such as non-payment of rent, lease violations, property damage, or illegal activity. Additionally, the law caps annual rent increases at 10% or 5% plus the Consumer Price Index (CPI) rate, whichever is lower. For example, with a 2024 CPI of 3.3%, rent hikes would be limited to 8.3%.

Ralph’s Take

New York already enforces some of the nation’s strictest eviction protections. While protecting tenants is important, there are concerns that the policy will…

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Visual of the Week 

Increase in Rents sine 1988

Rent for Another Year? Consider this:

Data indicates that both rent and home prices tend to increase over time. Renewing your lease may be an option, but it's likely you'll face higher rent costs than you do now. On the other hand, purchasing a home allows you to benefit from potential future price appreciation, building equity and increasing your net worth over time. Interested in exploring the cost of a starter home in our market? Let’s connect

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NYC Council Passes ‘Broker Fee Bill’

New York City Broker Fee Bill

The New York City Council has passed the Fairness in Apartment Rentals (FARE) Act, shifting the responsibility of paying broker fees from tenants to landlords. The legislation, approved by a 42-8 vote, aims to alleviate the financial burden on renters by prohibiting brokers from charging fees to tenants when representing landlords exclusively. The bill is set to take effect 180 days after passage, pending any veto from Mayor Eric Adams.

  • The Real Estate Board of New York, the New York Association of REALTORS®, and The Hudson Gateway Association of REALTORS® have strongly opposed the bill.

  • The FARE Act does not affect rental policy in Westchester County.

Ralph’s…

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