Many people believe that renting is less expensive than owning a house. But it turns out it’s actually cheaper to pay a monthly mortgage than rent in 42 states.
It’s similarly telling that interest rates for a standard 30-year fixed rate mortgage are running at just about 4 percent these days, meaning it’s cheaper to "rent" the money from a bank.
SmartAsset’s interactive buy vs. rent map highlights the places where buying a home is better than renting based on the number of years you plan on staying in your home. The top 10 counties identified below are those places where buying becomes a better financial option than renting in the shortest amount of time.
If you’re itching for that city vibe, but you don’t want to pay the high price tag, living somewhere just outside of Atlanta might be one of your most affordable options. Of course there are some less expensive areas of other big cities, like Philadelphia or even Chicago, but let’s face it, Atlanta is way more affordable than either of these cities.
It’s cheaper to buy than rent in Atlanta. by Mary Welch March 4, 2019. If your renter clients are under the impression that it’s too expensive to buy a place in metro Atlanta, LendingTree has some data that may make them rethink that.
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Although it’s cheaper to rent than to own in Atlanta, the cost difference is only $55 per month. If you’re in the market for a seven-figure home, you’re in luck: Atlanta is one of the cities with the most million-dollar homes for sale. 4/51
It’s cheaper to buy in every metro except two: Honolulu – where it’s 5% more expensive to buy than rent – and San Jose, where it’s 2% more expensive to buy.
It was cheaper to rent than buy in most U.S. cities in 2018. Buzz60’s Sean Dowling has more. It’s Cheaper to Rent Than Buy in Most Major Housing Markets | 11alive.com
In Georgia, it’s cheaper to own than rent a home. by Rincey Abraham July 26, 2017. With rising home prices and high competition, many renters may think it is not worth it to switch over to homeownership.
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