Hi Again Friends!
I recently had a conversation with a young lady who shared with me that she had made the move to Salem from Portland. One of the primary reasons she shared was the ever climbing cost to rent in the Portland Metro area.
It might be hard to believe - but rents, even here in Salem, are seeing increases pretty much across the board. And more often than not folks, like my earlier conversation, believe that renting is more affordable than purchasing. Or that they can't make ownership work within their monthly budget.
Here's a quick graphic that might help dispel that worry.
Of course, you always want to run your household's income/expenses to verify these percentages - but at the very least this might be a catalyst to have a more in depth conversation with a mortgage professional to see what you really can afford!
As always, please let me know if you have any questions or if I can be of any help.