Rent or Buy? Cities Where It’s Better To Own or Pay a Landlord

January 26, 2011  |  

Should you buy or should you rent? It’s a question most people ask themselves at some point in their lives.  Although most people think renting is a waste of money, it really depends on which city you live in. The real estate site Trulia recently released a report on 50 major cities, assessing which ones made more sense for renters and which ones made the most sense for buyers. Although 36 cities fell on the buy side of the equation, 10 were determined as being cheaper to rent. Here’s a highlight of 12 of those cities:

Rent in these cities:

Manhattan

Median home price: $1.31 million
Median annual rent: $42,370
Price-to-rent ratio: 31

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