According to ATTOM Data Solutions’ newly released 2021 Rental Affordability Report, owning a median-priced three-bedroom home is more affordable than renting a three-bedroom property in 63 percent of the U.S. counties analyzed.

The annual report noted this trend is occurring despite median home prices increasing more than average rents over the past year in 83 percent of those counties and rising more than wages in almost two-thirds of the nation.

ATTOM’s 2021 rental affordability analysis incorporated recently released fair market rent data for 2021 from the U.S. Department of Housing and Urban Development, wage data from the Bureau of Labor Statistics along with public record sales deed data from ATTOM in 915 U.S. counties with sufficient home sales data.

The analysis revealed the most populous counties where home prices are rising faster than rents are Los Angeles County, CA; Cook County (Chicago), IL; Harris County (Houston), TX; Maricopa County (Phoenix), AZ and San Diego County, CA.

The analysis also named the largest counties where rents are rising faster than prices. Those areas included Kings County (Brooklyn), NY; Queens County, NY; New York County (Manhattan), NY, Bronx County, NY and Allegheny County (Pittsburgh), PA.

According to the report, renting the typical three-bedroom property requires at least a third of average weekly wages in 55 percent of the counties analyzed.