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.
Jill is an outstanding realtor! She helped me both sell a home and buy a home. She is thorough,... read moreJill is an outstanding realtor! She helped me both sell a home and buy a home. She is thorough, professional and easy to work with. She made the whole process smooth and easy to understand. I have moved several times and Jill is hands down the best realtor I have work with. read less