Skip to content
MCC-property

MCC-property

Epicurean real estate

Primary Menu
  • Real Estate News
  • House for Rent
  • Construction
  • Furniture
  • Apartment
  • Building
  • About Us
    • Advertise Here
    • Contact Us
    • Privacy Policy
    • Sitemap
  • Home
  • It’s Cheaper to Buy a House Than Rent in These Cities
  • House for Rent

It’s Cheaper to Buy a House Than Rent in These Cities

By Rickey Andreu 2 years ago

[ad_1]

Image for article titled It's Cheaper to Buy a House Than Rent in These Cities

Photo: Andy Dean Photography (Shutterstock)

Whether you rent your home or are in the market to buy, there’s hasn’t been any good news about availability or affordability in a long time. Purchase prices have shot to record highs, and rent has seen double-digit growth every month for the last seven months, up 17.1% in February 2022 over the previous year, according to a report from listing site Realtor.com. Simply put, housing is expensive.

There are a handful of places—mostly in small to mid-size cities between the East Coast and the Midwest—where home ownership doesn’t seem entirely out of reach. And there are some metro areas where rent has shot up so fast that it may actually cheaper, on the whole, to buy. Data released last month from the real estate listing site found that the monthly cost of a starter home is more affordable than renting in 26 of 50 metro areas.

Where is it cheaper to buy rather than rent a home?

A few big caveats up front: Realtor.com’s calculations assume that a prospective homeowner makes a 7% down payment (which is not nothing) and has a mortgage rate of 3.45%. The monthly cost to buy is a weighted average of listing prices for studio, one-bedroom, and two-bedroom properties.

Most of the buy-over-rent metros are in the eastern half of the United States:

  1. Birmingham, Ala.: $1,201 monthly rent vs. $668 buy
  2. Cleveland: $1,325 monthly rent vs. $809 buy
  3. Pittsburgh: $1,530 monthly rent vs. $945 buy
  4. St. Louis: $1,295 monthly rent vs. $812 buy
  5. Detroit: $1,295 monthly rent vs. $901 buy
  6. Baltimore: $1,773 monthly rent vs. $1,242 buy
  7. Virginia Beach, Va.: $1,500 monthly rent vs. $1,091 buy
  8. Orlando, Fla.: $1,820 monthly rent vs. $1,327 buy
  9. Tampa, Fla.: $2,070 monthly rent vs. $1,543 buy

Meanwhile, the metro areas where buying seems completely out of reach even in the face of skyrocketing rents are all the places you would expect: Austin, New York City, San Francisco, San Jose, and Seattle round out the top five.

G/O Media may get a commission

[ad_2]

Source link

Tags: J Beard Real Estate, J Michael Real Estate, J Philip Real Estate, J Real Estate Commission, J Real Estate Finance Econ, J Real Estate Inc, J Scott Real Estate, J&B Real Estate, K Real Estate Blenheim, K Real Estate Group, K Real Estate Group Cape Town, K Real Estate Llc, K Real Estate Logo, K Real Estate New Zealand, K Real Estate Specialists, K Real Estate Utah, L Brooks Real Estate, L Catterton Real Estate, L Cooper Real Estate, L Real Estate Lvmh, L'Agence Real Estate, L&K Real Estate, L&M Real Estate, L&T Real Estate, Real Estate Job Description, Real Estate Jobs In Memphis Tn, Real Estate Jobs Oxford Ms, Real Estate Jonesboro Ar, Real Estate Kalispell Mt, Real Estate Kauai, Real Estate Keller Williams, Real Estate Kentucky, Real Estate Key Lock Box, Real Estate Key West, Real Estate Knowledge, Real Estate Knoxville Tn, Real Estate Lawyer, Real Estate Lawyer Near Me, Real Estate License Arkansas, Real Estate License Memphis, Real Estate License Mississippi, Real Estate License Nashville, Real Estate Market, Real Estate Market 2022, Real Estate Mart, Real Estate Mart Of Tn, Real Estate Memphis, Real Estate Millington Tn, Real Estate Mississippi

Continue Reading

Previous Uses of fiberglass fabrics | UK Construction Blog
Next McAlpine wins £14m Sunderland multi-storey car park
October 2023
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031  
« Sep    

Archives

Recent Posts

  • The Fascination of the Construction and Building
  • Dark Wood Convex Dining Range For Your Home
  • 4 Important Furniture Items For Your Office or Home
  • Home Office Furniture Collections Can Update Your Office
  • Alternatives to Vacation Homes

BL

Tags

C&M Real Estate C&R Real Estate Services C.F. Real Estate C J Real Estate D&B Real Estate D'Arcy Real Estate D'Ettorre Real Estate D Real Estate Appraiser D Real Estate Daily D Real Estate Logo E Real Estate Agency E Real Estate Agents Act 2008 E Real Estate Corp E Real Estate Depot E Real Estate Depot Mission Tx E Real Estate Llc E Real Estate Logo E Real Estate Meaning F&C Real Estate Investments F&G Real Estate F Real Estate Developer F Real Estate Logo F Real Estate Management F Real Estate Words H&F Real Estate M&D Real Estate Real Estate Data Real Estate Definition Real Estate Degree Real Estate Desoto County Ms Real Estate Developer Real Estate Development Consultant Real Estate Dyer County Tn Real Estate Dyersburg Tn Real Estate Etf Real Estate Exam Prep Real Estate Exam Questions Real Estate Express Login Real Estate Express Reviews Real Estate Fayette County Tn Real Estate Florida Real Estate For Dummies Real Estate For Sale Real Estate For Sale Memphis Tn Real Estate For Sale Near Me
mendocinocoastproperty.com | Magazine 7 by AF themes.

WhatsApp us