Renting Homes Cheaper Than Buying in Top 50 US Metros: Report

In 50 of the nation’s largest cities, renting a house is now more affordable than buying one, with rising mortgage rates being a major factor in home affordability.
” In February 2024, the U. S. middle book continued to decline yr- over- year for the sixth month in a row, down 0.4 percent for 0- 2 bedroom properties across the bottom 50 metros”, according to a March 26 report from Realtor.com.
Renting was determined to be” a more economical choice than getting in all of the 50 largest metros,” according to the report. The monthly cost of purchasing a basic home in these cities was$ 1, 027 more, or 60.1 percent higher, than renting one….

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