Buying Now Is 20%+ Cheaper Than Renting
The most recent findings in the Rent vs Buy Report from Trulia report that owning a home is still cheaper than renting, with a traditional mortgage (fixed 30-year), in 98 out of the 100 largest metropolitan locations in the country.
Going back six years since this study first began, owning has been consistently less expensive than renting.
The two exception metro areas where renting is still cheaper are San Jose and San Francisco, California, where median home prices have skyrocketed to more than One Million Dollars this year. Home values in San jose have increased tweny-nine percent in the last year, while rental values have stayed the same.
For the 98 metro locations where homeownership is…