Buying A Home Is 36 Percent Less Expensive Than Renting Nationwide

Dated: 06/04/2016

Views: 682

Buying a Home is 36% Less Expensive Than Renting Nationwide! | Simplifying The Market

Buying a Home is 36% Less Expensive Than Renting Nationwide!



In the latest Rent vs. Buy Report from Trulia, they explained that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States.


The updated numbers actually show that the range is an average of 5% less expensive in Orange County (CA) all the way up to 46% in Houston (TX), and 36% Nationwide!



Other interesting findings in the report include:



  • Interest rates have remained low and even though home prices have appreciated around the country, they haven’t greatly outpaced rental appreciation.


  • Some markets may tip in favor of renting if home prices increase at a greater rate than rents and if – as most economists expect – mortgage rates rise, due to the strengthening economy.


  • Nationally, rates would have to rise to 10.6% for renting to be cheaper than buying – and rates haven’t been that high since 1989.


Bottom Line:


Buying a home makes sense socially and financially. If you are one of the many renters out there who would like to evaluate your ability to buy this year, let’s get together to discuss the best course of action to get you into your dream home!

Julie Baldino - Owner-Managing Broker

Julie Baldino is a seasoned veteran of the Pacific Northwest real estate industry, and has consistently been in the top 10% in sales for over a decade in 2 states. In order to accommodate a rapidly ex....

Want to Advertise on this Site?

Latest Blog Posts

Home Appreciation Rates

 CoreLogic came out with their Home Price Insights Report which showed appreciation rates in homes. Their findings are representing in the following graph:With these appreciation rates,

Read More

2 Tips To Getting The Most Value Out Of Your Home

1- Price it Lower than the Market ValueThis seems like the opposite of what you think you should do, but it can in fact have a positive outcome on visibility. When pricing your house, this is

Read More

Cute Corner Bungalow Pending In Days

Charming Rose Village Bungalow on Spacious Corner OverviewMapsPhotos $229,000 Single Family

Read More