Trulia recently released their latest Rent vs. Buy Index for the 50 largest cities. The Rent vs. Buy Index calculates a price-to-rent ratio. The lower the ratio the more affordable it is to buy a home vs renting a home.
Price-to-Rent Ratios of:
Houston’s price-to-rent ratio is 13 making it more affordable to buy a home than rent in Houston. You only need to watch one episode of HGTV’s “Selling New York” to realize its cheaper to rent than to buy in New York.
Total costs of homeownership include mortgage principal and interest, real estate taxes, homeowners insurance, closing costs, HOA fees, private mortgage insurance (PMI) and the tax advantages of homeownership.
I would highly recommend Jill Wente. I relocated from out of state and Jill went above and beyond to... read moreI would highly recommend Jill Wente. I relocated from out of state and Jill went above and beyond to help me find the perfect home. We had multiple calls in preparations of my trip to the Houston area and Jill really took the time to understand my needs and desires. Once I had decided on my home she continued to take time out of her personal schedule to show me the area. Jill focused on activities and areas that were kid friendly and we gathered documentation that I was able to share with my children to help get them excited about the move. Jill negotiated additions to my home that I did not think were possible and she held the builder to high standards. My home is perfect. I will use Jill for any future needs and will recommend her to family and friends! read less