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Top 10 Cities to Buy vs Rent

In 2009: Where to FORSALE 5,156,000 e 4,487,000 e 9,643,000 existing homes sold new homes sold total homes sold 3,900,000 TOP 10 CITIES TO BUY VS. RENT Based on price/rent ratio", comparing 2 bedroom Apts/Condos/Townhouses homes enter foreclosure 130,580,000 Avg. List Price Avg. housing units in the U.S. City Minneapolis State Rent Minneapolis MN $153,844 $1,700 Arlington TX $72,422 $789 Fresno Miami FL $189,566 $2,019 36,673,000 ..... ... S Las Vegas renter occupied Fresno CA $90,446 $936 Phoenix -------------- ------.. San Antonio TX $89,068 $884 Mesa -------- ----------- ------- $71,317 ----------- $697 Mesa AZ Arlington --------*--- ------ -------- Jacksonville $92,488 ---....... $870 FL WAS Jacksonville El Paso --.-....... ------. Phoenix AZ $100,535 $883 AS San Antonio -......... -------- ------- El Paso TX $95,388 $770 Miami ---------- ------- Las Vegas NV $128,815 $983 In these cities, price/ rent ratios are below 15, which makes properties generally more affordable to buy than to rent. Key: O = 1,000,000 FOR ... and where to RENT mint.com TOP 10 CITIES TO RENT VS. BUY based on price/rent ratio. A Seattle -18,880,000 Portland Avg. vacant Avg. Rent City State List Price housing units New York Dallas TX $293,767 $1,324 75,038,000 owner Cleveland Он $246,895 ----------------------- $1,046 A Omaha occupied San Diego CA $396,409 $1,670 San Francisco Cleveland ** ------------ $992 --..... ---------- ------ Kansas City Kansas City ----..... $240,076 OCCUPANTS Oklahoma City OK $195,663 $763 NET WORTH Oklahoma City Average family net worth of -------. ------------ San Francisco CA $774,728 $2,996 San Diego Portland $307,858 -------..... $1,145 homeowners OR Dallas ----- . versus renters: Seattle WA $461,330 .. $1,546 Omaha NE $275,844 $870 1998: $$$$$$ $$$$$$$$$$$ $$$$$$$$$$$$ $$$$$$$$$$$$ $$$$$$$$$ ---------------------------- New York NY $1,383,612 $3,538 514,700 In these cities, price/ rent ratios are above 15 (and in most cases, above 20), which means it is generally more affordable to rent. $$$$$ 55,300 2001: $$$$$$ $$$$$$$$$$$$ Taken every three years by the Federal Reserve Board $$$$$$$$$$ $$$$$$$$$$$$ $$$$$$$$$$$$ $$$$$$$$$$ 655,500 $$$$$$ 64,400 *Price /rent ratio = average house price divided by received annual rent income. 2007: $$$$$$$$$$$$$$$$$$$ $$$$s$$$$$ss$$$sss$$$$ss$$ $$sss$$$$ss$$$$ssssss $$$$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$ 778,200 $$$$$$$ 70,600 2004: $$$$$$$$$$$$$$$$$$ Sources: http://www.trulla. om http://www.realtor.org: http://www.realtytrac.com http://www.census.gov http://www.federalreserve.gov $$$$$$$$$$$$$$$$$$$$$$$$ $$$ 686,300 $$$$$ 59,400

Top 10 Cities to Buy vs Rent

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In this illustration, it will give you the results of Trulia’s analysis, along with some interesting facts on buying versus renting, including the average net worth of home owners compared with that...

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