In an analysis of whether renting or buying a home costs less, Chief Economist, Jed Kolko, finds that it’s 44% cheaper to own than to rent. In an article on Trulia Trends, Kolko outlines his methodology and results that may surprise you.
Buying is currently cheaper than renting in all 100 of the larger metropolitan areas according to Kolko. With a recovering marketplace, rising home prices and increasing mortgage rates, the savings of buying over renting will begin to narrow.
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