Cities Where it’s Cheaper to Buy Than Rent

It’s cheaper to buy a home rather than rent one in 72 percent of the 50 largest U.S. cities, according to Trulia’s rent vs. buy index, which compares the total cost of home ownership to the cost of renting.

“Since the start of the ‘Great Recession,’ many former home owners have flooded the rental market,” Pete Flint, CEO of Trulia, said in a news release about the index. “Following the principles of supply and demand, renting has become relatively more expensive than buying in most markets.”

The index compares the median sales price of homes with the median rent on two bedroom apartments, condos, and townhomes that were listed on Trulia as of Jan. 10, 2011.

Here are the top 10 cities where it’s best to buy than rent, according to the index:
1. Miami
2. Las Vegas
3. Arlington, Texas
4. Mesa, Ariz.
5. Phoenix, Ariz.
6. Jacksonville, Fla.
7. Sacramento, Calif.
8. San Antonio, Texas
9. Fresno, Calif.
10. El Paso, Texas

Source: Cheaper to Buy Than to Rent in 72% of Largest U.S. Cities,” Inman News (Jan. 24, 2011)

About Lake Arrowhead Real Estate

Hello ~ My name is Voni and I am a Real Estate Agent with Coldwell Banker Sky Ridge Realty in Lake Arrowhead. I am a Realtor with Rim O the World Association of Realtors. Twice past president of the Board of Directors and the 2010 Realtor of the Year. I've been actively Listing and Selling Real Estate since May of 1980. It is my passion to help people find the home of their dreams or sell their home to move into a new neighborhood. I have lived in Lake Arrowhead most of my life and find it's the Best Kept Secret in So. Cal.
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