Since there seems to be a lot of press about how it may be better to rent than buy a home, I thought I would compare current asking price for renting different types of homes Yellowstone county to the same basic description of the selling price of a home and the payment needed to own that home. The monthly home payment is figured at 100% financing with a FHA at 4.12% 30 year loan, using 26% for taxes and insurance . The asking price for rents comes from my weekly survey of rental availability. Through this weekend that would be over 2200 individual ads for renting a house and for sales it amounts to over a 1000 closed Homes for 2014. The principal interest taxes and insurance payment for owning are in red, rents are in the blue.
So the question to ponder “Are you better off in Yellowstone county buying a home or renting a home?”
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