Markets
The Monthly Cost of Buying vs. Renting a House in America
The Monthly Cost of Buying vs. Renting a House in America
With home prices and mortgage rates both rising, the U.S. is now witnessing the biggest numerical gap in the monthly cost between owning a home and renting in over 50 years.
Americans, however, have seen similar scenarios occur since the early 1980s.
Today’s chart uses data from Reventure Consulting to highlight the cost of buying vs. renting a single-family residence in the U.S. since 1970, adjusted for inflation.
Mortgage Rates Jump to New High
In August 2023, mortgage rates rose to the highest level in 23 years, with the national average 30-year fixed mortgage hitting 7.48%.
As a result, the median rent in America is approximately $1,850 per month, about 30% cheaper than the median cost to buy, standing at $2,700 per month. This gap represents the largest difference between renting and buying in U.S. history.
While the difference was less than $200 in 2022, in 2023 the gap surpassed $800.
Many buyers, particularly those seeking their initial home purchase, have now been priced out of the market with concerns that they cannot afford home ownership. As a result, mortgage applications for home purchases have hit their lowest point in 20 years:
Rent costs have also seen an uptick, but not at the same pace, as the market adjusted following a steep rent spike witnessed during the pandemic.
Will Mortgage Rates Drop in 2023?
Increases in interest rates affect long-term home loans, such as 30-year fixed-rate mortgages. And starting in 2022, the Federal Reserve began to hike rates from their near-zero level to the current range of 5.25-5.5%.
Recently, the Federal Reserve unveiled new projections, indicating that the interest rate could potentially reach 5.6% by the end of 2023, implying at least one more rate hike in 2023.
As a result, numerous experts are anticipating that mortgage rates will likely remain above 6% for the rest of this year.
Markets
Which Retailers Operate in the Most Countries?
From fast-fashion giant H&M to Apple, we show the top retailers globally with the largest international presence.
The Top Retailers Operating in the Most Countries
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
Today, international expansion is a key growth strategy for the world’s top retailers as companies target untapped markets with the highest potential to drive revenue and profit streams.
While traditional retailers have sought out digital strategies as the industry evolves and consumer behaviors change, physical storefronts continue to be a dominant driver of retail sales. In 2023, brick-and-mortar sales comprised 81% of retail sales globally.
This graphic shows the top retailers operating in the most markets worldwide, based on data from the National Retail Federation.
Global Retailers With the Largest International Footprint
Here are the global retailers with the widest-reaching presence around the world in 2023:
| Ranking | Retailer | Number of Countries of First-Party Operation | Headquarters |
|---|---|---|---|
| 1 | H&M | 68 | 🇸🇪 Sweden |
| 2 | IKEA | 51 | 🇳🇱 Netherlands |
| 3 | Inditex | 45 | 🇪🇸 Spain |
| 4 | Decathlon | 34 | 🇫🇷 France |
| 5 | Carrefour | 32 | 🇫🇷 France |
| 6 | Sephora (LVMH) | 31 | 🇫🇷 France |
| 7 | Schwarz Group | 30 | 🇩🇪 Germany |
| 8 | Fast Retailing | 27 | 🇯🇵 Japan |
| 9 | Euronics International | 25 | 🇳🇱 Netherlands |
| 10 | Apple | 25 | 🇺🇸 U.S. |
Notably, eight of the top 10 companies with the widest market reach hail from Europe.
Fast-fashion giant H&M ranks first overall, with 4,454 stores across 68 countries last year. In 2023, the Swedish company earned $21.6 billion in revenues, with its largest markets by number of store locations being the U.S., Germany, and the UK. This year, it plans to open 100 new stores in growth markets, along with shutting down 160 stores in established locations, ultimately decreasing its global store count.
In second is IKEA, with a presence in 51 countries. Last year, the company expanded its footprint in India, launching its first store in the tech hub, Hyderabad. While the company has a broad international reach, its number of storefronts is a fraction of H&M, at 477 total stores worldwide.
Looking beyond the continent, Japan’s Fast Retailing is the top retailer in Asia, operating in 27 countries globally. As the parent company to fashion brand Uniqlo, it also stands as the seventh most valuable listed firm by market capitalization in the country.
Additionally, Apple is the sole American company to make this list, with storefronts in 25 countries. Overall, the company operates four types of retail stores: regular, AppleStore+, flagships, and flagship+. Regular stores often earn $40 million annually, while flagship+ stores typically earn more than $100 million.
By 2027, the company plans to build or remodel 53 stores globally, with the majority located in the U.S. and China.
-
Healthcare2 weeks agoWhich Countries Have the Highest Infant Mortality Rates?
-
Misc1 week agoVisualizing Global Losses from Financial Scams
-
population1 week agoMapped: U.S. States By Number of Cities Over 250,000 Residents
-
Business1 week agoCharted: How the Logos of Select Fashion Brands Have Evolved
-
United States1 week agoMapped: Countries Where Recreational Cannabis is Legal
-
Misc1 week agoVisualized: Aircraft Carriers by Country
-
Culture2 weeks agoHow Popular Snack Brand Logos Have Changed
-
Mining2 weeks agoVisualizing Copper Production by Country in 2023