This past week Trulia announced America's Top 10 Cities to Buy Vs Rent. On the flip side, they also released a list of 10 cities to Rent Vs Buy.
How did they come up with the list? "Trulia calculated the price-to-rent ratio using the average list price compared with average rent on 2 bedroom apartments, condos and townhomes listed on Trulia.com. To create the list, Trulia analyzed the largest 50 cities in America, by population."
Did your city make the list?
Top 10 Cities to Buy Vs Rent
1) Minneapolis, Minnesota
2) Arlington, Texas
3) Miami, Florida
4) Fresno, California
5) San Antonio, Texas
6) Mesa, Arizona
7) Jacksonville, Florida
8) Phoenix, Arizona
9) El Paso, Texas
10) Las Vegas Nevada
According to CEO and Co-Founder of Trulia Pete Flint, what they have found is cities like Las Vegas and Miami that were at the peak of the real estate bubble are now more affordable and a better place to buy rather than rent. He says, "Home sellers in these hard hit areas are forced to lower their prices to compete with all the foreclosures on the market."
HuffingtonPost put together a great slideshow of the above 10 cities with photos, Average List Price, and Average Rent Price of Each City. Check it out Here. They also have the slideshow of the Top 10 Cities Where It's Cheaper to Rent than Buy a Home.
What do you think of Trulia's list?
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