November 22, 2024 1:27 pm
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Buying less expensive than renting in majority of large counties

Rent-or-buyBy Jann Swanson | Mortgage News Daily

Payments on a mortgage used to purchase a three-bedroom home were more affordable than paying rent on a similar home in 66 percent of the counties recently analyzed by RealtyTrac. The company, which looked at data in 285 U.S. counties found that buying beat out renting in 188 of them.

RealtyTrac’s “buy-or-rent” analysis compared the percentage of median household income in 285 U.S. counties that would be needed to pay the fair market rent on a 3-bedroom property to the percentage that would be needed to make monthly house payments – including mortgage, insurance and property taxes – on a similar property.

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.