It is Cheaper to Purchase Than Hire in These 15 Cities, Based on a New Report

Renting an condominium comes with its perks — specifically the pliability of committing to 1 location for only a yr at a time, that means you’ll be able to choose up and transfer with out having to attend for your own home to promote. However relying on the place you’re residing, renting may suck your checking account dry with out offering fairness of your personal to point out for it. A brand new report from Realtor.com exhibits that out of the highest 50 main metro areas within the nation, it’s cheaper to purchase than to hire in 15 of them.

A big a part of that is because of traditionally low rates of interest for mortgages, which have slowed the rise of the price of homeownership. The common month-to-month value to personal a house rose solely 0.2 p.c during the last yr to $1,988, whereas the month-to-month value to hire

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