Inflation, Rising Costs for Home Purchases and Rentals Making It Harder for People to Afford Where They Want to Live, WSFS Mortgage Survey Finds
buying-a-home | Read Time: 3 minutes
By WSFS Contributor | Published: March 2022
Nearly two-thirds (66%) of Americans are having trouble saving for a new home or rental due to rising costs for everyday needs, and an equal percentage of renters are struggling to compete for and afford units where they live due to rising rent, according to a new WSFS Mortgage survey.
The study, which surveyed 1,530 Greater Philadelphia and Delaware region consumers and 1,500 consumers nationally, examines the economic impacts of inflation, rising costs, reduced housing inventory and geographic preferences of homebuyers, homeowners and renters ages 25-65.
Check out the infographic below to learn more about the study’s key findings.
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