The housing crisis impacting St. George and other parts of Utah has made it much more affordable to rent property than to buy it, according to researchers.
An April study by the analytics and insurance corporation Construction Coverage says mortgage rates have more than doubled since 2021, leaving home prices still at historic highs and making renting the more affordable choice in most markets.
Stock image | Photo by Feverpitched/Getty Images Plus, St. George News
A house for sale in Washington County for under $1M in a neighborhood with several houses for sale in Washington City, Utah, May 7, 2024.
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A subdivision of houses sits across the street from a planned 40-acre development at Grapevine Crossing in Washington City, Utah, Aug. 22, 2024.