Check out the latest results from Trulia's Rent vs. Buy Report. Homeownership remains cheaper than renting!
With a benchmark of-- a traditional, 20% down, 30-year fixed rate mortgage, rating 100 of the largest metro areas in the United States. The range is anywhere from 17.4% less expensive in Honolulu, HI, up to 53.2% less expensive in Miami and West Palm Beach, FL, with an overall average of 37.7% nationwide.
Key findings in the report:
• Mortgage interest rates have remained low and even though home values have appreciated around the country, the lower interest rates have helped to absorb the market appreciation.
• At this time last year, it was 37.2% cheaper. A .5% improvement which affirms buying a home vs renting continues to be the…