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 --- It was fun to work with you (and I'm not always a pushover!). You... read moreJill --- It was fun to work with you (and I'm not always a pushover!). You helped coach K & I, in getting the house ready. You made great showing// staging suggestions that came out as "helpful". Of course, getting us an offer within a couple of weeks (that turned into a sale), ALSO made me appreciate you☺! You guided us through the sales paperwork, and kept me calm through the "unique" closing.Thanks read less