Owning now cheaper than renting in many major markets-including Milwaukee

High rent and high home affordability in many markets makes the rent versus buy question an easier one to ponder.  Take a look below…Trulia analyzed the top 50 cities in the U.S. by population using average list price compared with average rent, taking into consideration the total costs of homeownership and total cost of renting. 

A price to rent ratio of 1-15 means it is much less expensive to own than to rent a home in this city.

Rank City State

Price/rent ratio

1-15 = much cheaper to own than rent 

1 Arlington TX 7
2 Frenso CA 8
3 Miami FL 9
4 Mesa AZ 9
5 Phoenix AZ 10
6 Jacksonville FL 11
7 Detroit MI 11
8 Columbus OH 12
9 El Paso TX 13
10 Nashville TN 14
11 Baltimore MD 14
12 Tucson AZ 14
13 Long Beach CA 14
14 Raleigh NC 15
15 Houston TX 15
16 Albuquerque NM 15
17 Milwaukee WI 15
18 Indianapolis IN 15

Is now your time to begin looking for a house? Does the information above help you with your decision?  Worried there is no first time home buyer credit anymore and feel you missed out? The low interest rates combined with lower home prices create a benefit worth thousands and thousands  of dollars over the course of a loan.

There’s more to homeownership than finances. It is a place you can call your own.  If First Weber can help with your Wisconsin real estate purchase, please contact us.  You can find out about the home buying process at firstweber.com For additional rent versus buy information, please see this previous rent versus buy in Wisconsin post.

Thanks for visiting the First Weber Wisconsin real estate blog.

photo credit http://www.flickr.com/photos/wonderfullycomplex/4300115911/

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