Special offer

Buying A Ct Home is 36% Less Expensive Than Renting Nationwide

By
Real Estate Broker/Owner with Dave Jones Realty, llc. 0789397

Buying a Home is 36% Less Expensive Than Renting Nationwide! | Keeping Current Matters

In the latest Rent vs. Buy Report from Trulia, they explained that home-ownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States.

The updated numbers actually show that the range is an average 36% Nationwide! 

Other interesting findings in the report include:

  • Interest rates have remained low and even though home prices have appreciated around the country, they haven’t greatly outpaced rental appreciation.
  • Some markets may tip in favor of renting if home prices increase at a greater rate than rents and if – as most economists expect – mortgage rates rise, due to the strengthening economy.
  • Nationally, rates would have to rise to 10.6% for renting to be cheaper than buying – and rates haven’t been that high since 1989. 

Bottom Line

Buying a home makes sense socially and financially. If you are one of the many renters out there who would like to evaluate your ability to buy a home in Connecticut this year, meet with a Real Estate Professional at Dave Jones Realty who can help you find your dream home.

Comments (0)