10 Cities Where Buying Is A Good Bet

Dated: March 6 2014

Views: 4899

10 Cities Where Buying is a Good Bet

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Is renting or buying a better financial bet? Every six months, Trulia’s chief economist, Jed Kolko, runs the numbers to answer that question and help you stay on top of the trends.  So what does his Winter 2014 Rent vs. Buy Report tell us? Although the gap between renting and buying is narrowing across the U.S., homeownership is still 38% cheaper than renting.

Without further ado, here are the top 10 cities where buying is a no-brainer:

#           U.S. Metro             How much cheaper is buying than renting?
1          Detroit, MI                                 66%
2           Gary, IN                                    61%
3       Birmingham, AL                            58%
4         Toledo, OH                                 58%
5      Kansas City, MO-KS                       58%
6         Cleveland, OH                             56%
7         Dayton, OH                                56%
8      Memphis, TN-MS-AR                     56%
9       Grand Rapids, MI                          55%
10        St. Louis, MO-IL                         54%


And here are the 10 cities where it’s a closer call:
#             U.S. Metro             How much cheaper is buying than renting?
1           Honolulu, HI                                          5%
2           San Jose, CA                                          9%
3         San Francisco, CA                                   13%
4         Orange County, CA                                21%
5           New York, NY-NJ                                  22%
6             Oakland, CA                                       24%
7            Los Angeles, CA                                  24%
8          Ventura County, CA                              27%
9              Albany, NY                                        27%
10            Austin, TX                                         30%

SOURCE: http://www.trulia.com/tips/2014/02/10-cities-where-buying-is-a-good-bet/?ecampaign=cnews&eurl=tips.t...
 
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Michelle Cantrell

Michelle is a native of Southwest Missouri and has twenty-five years of experience in selling real estate in the greater Springfield area! Michelle specializes in all price points, including new const....

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