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You are here: Home / Google+ Posts / Buying a Home Is 35% Cheaper Than Renting in the Biggest Metro Areas

Buying a Home Is 35% Cheaper Than Renting in the Biggest Metro Areas

May 19, 2015 by Paul Spoerry 7 Comments



Rent vs. Buy: Which is Cheaper for You?
The decision to rent or buy a home depends on where you live, and also on your mortgage rate, tax bracket, how long you’ll stay put, and whether you need to pay HOA fees.

Call me shocked… but according to Trulia in the 100 largest metro areas, buying is significantly cheaper than renting. They take a bunch of variables into account (let's face it there are a ton to consider)… also note they did this across a 7 year period so varying times might change things.

Check out their interactive map at the link!

Check this out on Google+

Filed Under: Google+ Posts

About Paul Spoerry

I’m a groovy cat who’s into technology, Eastern Thought, and house music. I’m a proud and dedicated father to the coolest little guy on the planet (seriously, I'm NOT biased). I’m fascinated by ninjas, the Internet, and anybody who can balance objects on their nose for long periods of time.

I have a utility belt full of programming languages and a database of all my knowledge on databases... I practice code fu. Oh, I've also done actual Kung Fu, and have a black belt in Tae Kwon Do.

I run. I meditate. I dance. I blog at PaulSpoerry.com, tweet @PaulSpoerry, and I'm here on Google+.

I'm currently work for IBM developing web enabled insurance applications for IBM and support and develop a non-profit called The LittleBigFund.

Comments

  1. Laurel Lawson says

    May 19, 2015 at 6:02 pm

    This doesn't even remotely surprise me, and I think the numbers are actually underreported for equivalent housing for Atlanta.

    At least in part this is driven by almost no one being able to get a loan, so rentals are skyrocketing, especially for anything nice or walkable.

  2. David Simmons says

    May 19, 2015 at 6:44 pm

    I have a couple of friends that rent and it price is generally is always more than owner. The owner set the rent on the mortgage cost, taxes and what they figure will be repairs plus $200.00. The landlord is not looking to lose money.
    And they will raise rent based on what the current cost of mortgage in he neighborhood would be not their actual price.

  3. Matt Lorence says

    May 19, 2015 at 7:20 pm

    I've got friends who won't consider owning because they don't know if they want to stick around longer than 4-5 years.

    I tell them that they're probably paying enough in rent to pay off a quarter of a mortgage in 5 years around here, and if they want to move, there's always someone looking to buy.

  4. West Kagle says

    May 20, 2015 at 6:38 am

    I've always been of the opinion that renting needs to be way cheaper that buying when you're considering a place to live. If the diffrence is not extremely significant, you should go for the choice that leads to you owning the properity, instead of lining someone else's pockets and getting nothing at the end of the road.

  5. Paul Spoerry says

    May 20, 2015 at 7:32 am

    I think financially it makes more sense but here in STL to buy a nicer home you have to move further away from the city… which means a longer commute. Studies have also shown that we'd have more happiness if we lived closer to jobs, which tend to be clustered near cities.

  6. West Kagle says

    May 20, 2015 at 7:38 am

    +Paul Spoerry
    This is why we really need that self-driving car. 😉

  7. Ha Jiwon says

    May 20, 2015 at 10:39 pm

    내 삼성 디바이스에서 보냈습니다

    ——– 원본 메시지 ——–

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