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But across most of the country, buying is still a much better deal than renting, according to a new study by real estate site Trulia. In all 100 of the country’s biggest metro areas, owning comes out cheaper than renting – 35% cheaper, on average.
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The latest Rent vs. Buy Report from Trulia shows that homeownership is still cheaper than renting in 98 of the 100 largest metro areas in the United States.
But it’s cheaper. more than just laying tracks between cities and buying fancy new rail cars. Specifically, the report warns against putting stops in sparsely populated areas because that slows.
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DON’T RENT: 10 US housing markets where it’s cheaper for young people to buy than rent. In terms of major cities such as New York and San Francisco, it’s still cheaper to buy, but just barely. Trulia’s chief economist, Ralph McLaughlin, reports: Our rent versus buy metric is especially tight for young prospective buyers in California.
There are a few exceptions in select metro cities (and you can’t ignore the down payment and type of mortgage you’re considering), but homeownership remains cheaper than renting nationally in all of the 100 largest metro areas. In fact, buying is 38 percent cheaper than renting (up from 35 percent last year) when you consider a 30-year mortgage and the traditional 20 percent down payment.
But homes are still cheaper than. metro areas, up from eighth a year ago, according to a Zillow analysis. In the past year, Greater Seattle surpassed the Boston, New York and Washington, D.C.,
According to real estate web site Trulia, buying was cheaper than renting in 74% of the country’s 50 largest cities in July. In just 12% of the cities, including New York, Seattle and San Francisco, renting was cheaper. In the remaining 14% of cities, renting was less expensive but close to the cost of buying. Print.
The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting, with a traditional 30-year fixed rate mortgage, in 98 of the 100 largest metro areas in the United States. In the six years that Trulia has conducted this study, this is the first time that it was cheaper to rent than buy in [.]