Where Are the Most and Least Affordable US Single-Family Rental Markets?
November 14, 2023
Households in some U.S. markets pay almost 60% of their incomes toward rent, while those in others spend less than 25%.
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Yanling Mayer holds the position of principal, economist in the Office of the Chief Economist at CoreLogic. She conducts analysis of housing and mortgage markets. A financial economist by training, Mayer has a great depth of professional experience in economic and market research.
Prior to joining CoreLogic, she was director of research with FNC, Inc., a mortgage technology company and industry leading provider of appraisal workflow and collateral valuation platforms, where she was responsible for housing analysis and collateral-focused analytics research. She earned her bachelor’s degree in finance from Shanghai University of Economics and Finance, her master’s degree in economics from the University of Mississippi and her doctorate in finance from the University of Mississippi.
Households in some U.S. markets pay almost 60% of their incomes toward rent, while those in others spend less than 25%.
Renters now spend more than 40% of their incomes on the cost of housing.
Over the past two decades, high-tier home values have significantly outpaced low-tier home values.
CoreLogic Principal Economist Yanling Mayer examines the impact that natural disaster risks could have on property values in South Florida.
Since May 2022, the appraisal gap has seen a precipitous decline at the same time that higher mortgage rates are squeezing buyers.
At a time when record-low interest rates prompted home-buying frenzies, surging property values and mortgage lending, piggyback financing has missed out in the current pandemic housing boom.