By Suzanne De Vita RISMedia
Homeownership is the epitome of the American Dream not only for its advantages as a financial asset, but also for its sociocultural value—in fact, most renters associate owning a home with the ultimate ideal, despite having some difficulty affording it.
A recent report by cost information website HowMuch.net reveals the goal is within reach—for some— but also that most are set on realizing it regardless of cost.
In a side-by-side analysis of monthly housing costs, the slimmest gaps between owning and renting are shown to be in the Rust Belt and the Southeast. Homeownership in West Virginia is the most easily achievable, requiring only $297 above and beyond the cost of renting. A home in Indiana, Arkansas, Florida and South Carolina is also relatively attainable.
Credit: “Buying vs. Renting a Home by State” by HowMuch.net
