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In the nation’s 100 largest metro areas, buying is, on average, 38 percent cheaper than renting your home according to Trulia. Rising mortgage rates and home prices have begun to narrow the gap over the past year, although interest rates have recently dropped and the housing price growth is beginning to slow down.
A unit that recently hit the market in DC. Trulia’s most recent Rent vs. buy analysis calculates that it is 26.8 percent cheaper to buy a home in the DC area than to rent – a slightly slimmer margin than last spring.. While this percentage in favor of buying holds true nationwide, the tide is decidedly swinging the other way in some of the most expensive housing markets, including the San.
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But across most of the country, buying is still a much better deal than renting, according to a new study by real estate site Trulia. In all 100 of the country’s biggest metro areas, owning comes out cheaper than renting – 35% cheaper, on average.
Buying is Cheaper Than Renting The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States.
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according to the latest Trulia report. Buying is an even better deal with a 15-year mortgage, but not as favorable with less money down. Homeownership remains cheaper than renting nationally and in.
In most of the country’s major metro areas, buying is still cheaper than renting in terms of monthly costs. In some cities like Philadelphia, Fort Lauderdale and New Orleans, there’s a big advantage to buying a house versus renting in 2017.
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