Rent or Buy? Is it More Affordable to Rent or Buy a Home??

The rent vs buy heat map shows which cities it is more affordable to rent vs buy a home. While home prices have risen in the last few years, rents have also risen as well. In many large cities it is more advantageous to rent than buy, while in smaller cities it is better to buy than rent.

The Rent vs Buy heatmap is based on median 3 bedroom homes in those cities. An analysis was done where they compared the mortgage payment on those homes vs how much rents are in those cities. Most of the places where it is better to rent than buy are in the south and eastern states. The west coast its better to rent than buy in large cities.

Here is the renting vs buying heatmap…

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