Buying is more afforable than renting in 80% of largest U.S. cities!

May 5, 2011

With the demand for rentals raising in the United States it is positive for the Real Estate market to see the latest Rent vs. Buy Index performed by Trulia.com.  The research shows that buying a two-bedroom apartment, condominium or townhouse is more affordable than renting in 80% of the United States 50 largest cites.  It was only in New York, NY, Fort Worth, TX and Kansas City, KS that resulted in renting being more cost effective than buying.

Buy Vs. Rent by Trulia

Key findings include (presented by the California Association of Realtors):

  • Current market conditions consisting of steadily rising rents, falling home prices and low mortgage rates have tipped the rent versus buy scale in favor of home ownership.
  • Price:Rent ratios in Fresno, Omaha, and San Jose experienced the largest quarter-over-quarter movement in favor of home ownership.
  • Aspiring homeowners in Los Angeles, Seattle, Boston, San Francisco, Portland, and Oakland face a bigger challenge when it comes to deciding between renting and buying a home. The cost of home ownership in these coastal cities continues to be more expensive than renting; however, it may make more financial sense to buy depending on the situation.

The demand for rentals in South Lake Tahoe is rising with the major indicator being the rise in rental pricing, however South Lake Tahoe Real Estate has always carried a strong demand for second home owners making the demand for rentals just another reason to buy!

All information is deemed reliable but not guaranteed.

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