Buying is Currently 33.1% Cheaper Than Renting

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Buying is 33.1 Cheaper

The results of the 2017 Rent vs. Buy Report from Trulia are in! The results 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 show an average of 33.1% nationwide!

Other interesting findings in the report include:

  • Interest rates remain low, even though home prices have appreciated, they haven’t greatly outpaced rental appreciation in some areas.
  • ‘Rent vs. buy’ decisions are largely driven by changes in mortgage interest rates.
  • Detroit and Philadelphia are markets where buying far outweighs renting. Here, home seekers find it at least 45% cheaper to buy than rent.

Bottom Line

Buying a home makes sense. If you are a renter now may the time to look into buying your own dream home. Meet with a local real estate professional who can help you find your dream home. (GOTTRE Obviously!)

Schedule a FREE professional assessment of your home.  CLICK HERE.

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