Top 10 U.S. Cities Where It's Smarter To Buy

By
Real Estate Agent with Douglas Elliman Real Estate in Babylon NY

Top 10 U.S. Cities Where It's Smarter To Buy

For people who want to own a home, the premium to buy—the spread between what they’d spend to rent and what they’d pay for a mortgage—is much lower than the 15-year average in many cities.

To determine what cities are smart buys, Forbes magazine computed the premium and also identified locales where economists predict home prices will go up the most over the next five years.

Here are the top 10 cities the magazine chose as the best places to buy right now.

  1. Boston-Cambridge-Quincy, Mass.
  2. Charlotte-Gastonia-Concord, N.C.-S.C.
  3. Chicago-Naperville-Joliet, Ill.-Ind.-Wis.
  4. Cincinnati-Middletown, Ohio-Ky.-Ind.
  5. Denver-Aurora-Broomfield, Colo
  6. Minneapolis-St. Paul-Bloomington, Minn.-Wis.
  7. Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md.
  8. Portland-Vancouver-Beaverton, Ore.-Wash.
  9. San Francisco-Oakland-Fremont, Calif.
  10. Washington-Arlington-Alexandria, D.C.-Va.-Md.-W.V.


Source: Forbes, Francesca Levy (01/21/2010)

Comments (6)

Toula Rosebrock
Diane Turton, Realtors, Forked River, NJ - Lacey Township, NJ
Broker/Sales Associate, Realtor, Lacey Township,

ToulaRosebrock,com

Hi Jackie:

That's an interesting list of Cities.

I know that Philly is mostly bank-owned properties at this point.

Jan 22, 2010 09:41 AM
Jackie Connelly-Fornuff
Douglas Elliman Real Estate in Babylon NY - Babylon, NY
"Moving at The Speed of YOU!"

Hi Toula, When I saw this article, I just had to hijack it, lol. I felt others would find it interesting. I had no idea about Philly. That is sad!

Jan 22, 2010 10:55 AM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Hey Jackie!  THANK YOU!!  It was interesting to see these cities and I'm sure the people that live in them are thrilled....I somehow didn't think lovely Long Island would make the list :(

Jan 22, 2010 02:55 PM
Jackie Connelly-Fornuff
Douglas Elliman Real Estate in Babylon NY - Babylon, NY
"Moving at The Speed of YOU!"

Hi Carole, I wasn't surprised that Long Island wasn't on the list either.

Jan 22, 2010 10:37 PM
Dr. Stacey-Ann Baugh
Century 21 New Millennium - Upper Marlboro, MD
A doctor who makes house calls.

Hi, Thanks for the list.  I am going to reblog it since I work in one of the markets on the list. Thanks for bringing this to my attention.

Jan 23, 2010 01:01 AM
Jackie Connelly-Fornuff
Douglas Elliman Real Estate in Babylon NY - Babylon, NY
"Moving at The Speed of YOU!"

Hi Dr. Stacey-Ann! Thank you for the re-blog and you are welcome! Interesting list.

Jan 23, 2010 01:05 AM