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Americans buying homes are on average paying 50 percent more on mortgage payments than those on rent - the highest premium since at least 1996.
A growing lack of housing in the U.S. is leading to rising rents; and rising interest rates make homes more expensive.
"With vacancies on the rise, some landlords are doling out one-time discounts to attract renters while maintaining high asking rents on paper"
Experts weigh in on rental rates in the valley as a flood of new apartments are about to hit the market.
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The median asking rent in August was $2,052, only $2 short of the all-time high, according to Redfin.