Buying A Home Is 35 Percent Less Expensive Than Renting

Dated: 04/12/2017

Views: 359

Buying a Home is 35% Less Expensive than Renting!


Buy or Rent

In the latest Rent vs. Buy Report from Trulia, they explained that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage throughout the 100 largest metro areas in the United States.

The updated numbers actually show that the range is from an average of 16% in Honolulu (HI), all the way to 55% in Sarasota (FL), and 35% Nationwide!

The other interesting findings in the report include:

  • Interest rates have remained low and even though home prices have appreciated around the country (3.9%), they haven’t greatly outpaced rental appreciation (3.7%). “In the past year, these two trends have made homeownership even more affordable compared to renting.”

  • Some markets might tip in favor of renting if home prices increase at a greater rate than rents and if – as most economists expect – mortgage rates rise, due to the strengthening economy.

  • Nationally, rates would have to rise to 10.6% for renting to be cheaper than buying – and rates haven’t been that high since 1989. 

Bottom Line

Buying a home makes sense socially and financially. Rents are predicted to increase substantially in the next year, so lock in your housing cost with a mortgage payment now.


Let Me Help You Become A Homeowner Instead Of A Renter! We Have A Great Mortgage Broker Who Can Help You Get Your Financing Together And Make Your Dream Of Owning A Home A Reality! Contact Me Today And Let's Get Started! Call 251-269-0299

Want to Advertise on this Site?

Latest Blog Posts

What Days Are The Best To List Your Home

Top Days to List Your Home for SaleSome Highlights: ATTOM Data Solutions conducted an analysis of more than 29 million single-family home and condo sales over the past eight years

Read More

Shortage Of Homes For Sale Is Impacting The Housing Market

A Lack of Inventory Continues to Impact the Housing MarketThe housing crisis is finally in the rear-view mirror as the real estate market moves down the road to a complete recovery. Home values are

Read More

The Benefits Of A 20 Percent Down Payment

The Benefits of a 20% Down PaymentIf you are in the market to buy a home this year, you may be confused about how much money you need to come up with for your down payment. Many people you talk to

Read More

Buyers Are Optimistic About Homeownership

Home Buyers are Optimistic About Homeownership!When we consider buying an item, we naturally go through a research process prior to making our decision. We ask our friends and family members who

Read More