The Wheaton Blog
Cheaper to Buy than Rent in Some Big Cities
It is currently cheaper to buy a home than to rent one in 74 percent of the country’s largest 50 cities, according to the real estate site Trulia — findings that confirm the national epidemic of depressed housing prices is still in full swing.
Research compared the median list price and median rent for two-bedroom apartments, condos and townhomes in America’s 50 largest cities, found that renting is more expensive than buying, particularly in Miami and Las Vegas. But in cities such as New York, Seattle, Kansas City and Sanfranciso, it’s still more expensive to buy than rent.
Factors such as high unemployment and falling wages stand in the way of housing recovery.
–Source: Huffington Post