Cheaper to Buy Than Rent in 72% of the 50 Largest Cities
Posted by Ted C. Jones on January 25, 2011
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In a very simple and concise study, Trulia compared the median list price for two-bedroom apartments, condos and townhouses to the median rental rate (annualized by multiplying by 12). Since these are actual market terms, this easy methodology gives an excellent apples-to-apples comparison.
Why not calculate this same ratio for your local market?
Not only markets in the hard-hit housing states of Florida, Arizona, California and Nevada included on the ‘buy list’ states, but even markets such as El Paso, San Antonio and Arlington, Texas.
Still, however, renting is not for everyone given the transaction costs and down payment necessary with ownership.
