Buying Is Now 331 Cheaper Than Renting In The US

Dated: 06/19/2017

Views: 28

Buying Is Now 33.1% Cheaper Than Renting in the US

Buying Is Now 33.1% Cheaper Than Renting in the US | MyKCM

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 the 100 largest metro areas in the United States.

The updated numbers actually show that the range is an average of 3.5% less expensive in San Jose (CA), all the way up to 50.1% less expensive in Baton Rouge (LA), and 33.1% 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.

  • With rents & home values moving in tandem, shifts in the ‘rent vs. buy’ decision are largely driven by changes in mortgage interest rates.

  • Nationally, rates would have to reach 9.1%, a 128% increase over today’s average of 4.0%, for renting to be cheaper than buying. Rates haven’t been that high since January of 1995, according to Freddie Mac.

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 find your dream home.

Blog author image

Jeri Patrick

In today’s complex and difficult real estate market you need a professionals who will do whatever it takes to market and sell your home. Jeri Patrick has a team with an established history of succes....

Want to Advertise on this Site?

Latest Blog Posts

Sep 19 2018 5018 1

25% of Homes with a Mortgage are Now Equity Rich!Rising home prices have been in the news a lot lately and much of the focus has been on whether home prices are accelerating too quickly, as well as

Read More

Sep 18 2018 5018 1

Home Prices: The Difference 5 Years MakesCoreLogic recently released their Home Price Index Report. One of the key indicators used in the report to determine the health of the housing

Read More

Sep 17 2018 5018 1

If You Are Thinking of Selling? You Must Act NOW!If you thought about selling your house this year, now more than ever may be the time to do it! The inventory of homes for sale is well below

Read More

Sep 14 2018 5018 1

Is Buying a Home Really More Stressful Than Planning a Wedding? [INFOGRAPHIC]Some Highlights: According to a new survey from Open Listings, 62% of Americans ages 25-54 believe that

Read More