Buying is Cheaper than Renting in Most Markets

April 10, 2015

The latest data from RealtyTrac reveals that buying a home is more affordable than renting in three out of four markets in the U.S., HousingWire reports.

Specifically, in 76 percent of counties RealtyTrac analyzed, monthly house payments on a median-priced home is more affordable than the monthly fair market rents as set by the U.S. Department of Housing and Urban Development on a three-bedroom property.

Among the 56 counties with conditions that favor buying were Bay County, Mich., in the Bay City metro area; Fayette County, Penn., in the Pittsburgh metro area; and Tazewell County, Ill., in the Peoria metro area.

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