Sure, most folks want to own their own home but, plain and simple, most folks can’t afford to buy. And, while the prices of homes continues to rise, rents have actually declined for 12 months in a row.
And some major metro areas the savings are quite dramatic (over $1,000 per month). Below are the top metro areas where renting is chaeper than buying a starter home. The percentage save is included.
- Austin, TX – 144.4%
- Seattle, WA – 107.7%
- Los Angeles, CA – 99.5%
- Nashville, TN – 93.3%
- Phoenix, AZ – 91.6%
- Columbus, OH – 91.3%
- Dallas, TX – 88.3%
- San Francisco, CA – 88.2%
- New York, NY – 81.1%
- Boston, MA – 78.6%