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.
We entrusted Jill Wente with the sale of our current home and purchase of a new home. From the beginning... read moreWe entrusted Jill Wente with the sale of our current home and purchase of a new home. From the beginning she was extremely up front and honest about exactly what we would need to do to get our house sold. We had an incredibly tight timeline, that she explained would be difficult to make - but she helped us make it happen and our house was under contract in 2 days! She had recommendations for all our home repair needs and they were all professional and fairly priced. She worked hard to really sell our offer for our new home - she was able to pull off the tight timeline, securing a rent back from our old house so we had time to move out, and a contingency for our new home. Definitely exceeded our expectations. She was so helpful along the way - as first time home sellers we really relied on her and we feel lucky to have worked with her! You will not regret working with Jill! read less