The Nation's 10 Strongest Buyers' Markets
January 19, 2016
Buying trumps renting in more and more cities as rental costs continue to escalate. SmartAsset recently pinpointed where buying a home is better than renting in the shortest amount of time.
SmartAsset factored its rankings by culling data on average rents and home prices and comparing buying to renting in counties throughout the U.S. It used the costs of renting and buying a typical home in each county for a household earning $100,000 a year.
The data they used to figure out the costs associated with buying included a mortgage rate of 4.5 percent, closing fees of $2,000, and a 20 percent down payment.
Source: “Rent vs. Buy,” SmartAsset (January 2016)
Updated: November 21, 2019