Cheaper To Buy Than Rent!

Posted: April 11, 2015 | Source: www.floridarealtors.org

In 76 percent of the U.S., it is more affordable to buy a home than it is to rent. According to the study by RealtyTrac, the monthly payment on a three-bedroom, median-priced home is less than the cost to rent the same home in the majority of U.S. counties. Monthly rents represented 28 percent of median household income while house payments, including property taxes and insurance, represent 24 percent of median household income. The study suggests that renters who have saved enough to make a 10 percent downpayment are usually ahead by purchasing a home.