We’ve already covered the top 10 cities to rent vs. buy, so now let’s look at the top 10 cities to buy vs rent.
While there are plenty of advantages to renting an apartment or a home, there may be more upside to buying one, depending on where you live.
Currently, mortgage rates are at all-time record lows, meaning you can borrow on the cheap.
Home prices have also dropped considerably in certain parts of the country, though it’s important to note that they’ve come off grossly inflated highs.
You may also be wondering if real estate is still a good investment, given the ongoing turmoil.
Well, like I always say, real estate is all about location, and the index below from real estate listing service Trulia illustrates that point.
The company calculated the price-to-rent ratio using the average list price compared with the average cost of rent on two-bedroom apartments, condos, and townhouses listed on their website.
What they found is that hard-hit cities like Las Vegas, Miami, and Fresno are now good places to buy based on costly market rents and falling home prices.
As expected, a number of Texas cities made the list, along with Minneapolis, Minnesota, which took the number one spot.
Top 10 Cities to Buy vs. Rent
Read more: Is now a good time to buy a house?