The Buy-Versus-Rent Advantage in the U.S. Extends Coast to Coast

by Team Member 11. March 2014 19:29

by Andrew O’Connell  |   8:30 AM March 11, 2014

Even though home prices and mortgage rates have been rising, rents have been rising too, so it’s still substantially cheaper to buy a home than to rent in major U.S. cities, assuming you’re planning to stay in the home a while. In comparison with renting, you’ll save 22% in New York City, 24% in Los Angeles, 34% in Washington D.C., 38% in Miami, 41% in Dallas, 45% in Houston, 46% in Philadelphia, 47% in Chicago, and 52% in Atlanta, if you remain in the home for seven years, according to figures quoted by CNN.

SOURCE: http://blogs.hbr.org/2014/03/the-buy-versus-rent-advantage-in-the-u-s-extends-coast-to-coast/

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