Cities Where Buying Is Better Than Renting

May 12, 2016

It makes more sense to buy a home in Tampa instead of renting one, even if you’re not staying for all that long.

Business Insider examined a recent SmartAsset report that found the “breakeven year,” defined as the point at which the costs of renting become greater than the costs of buying, for 29 major cities. 

With an average monthly rent of $1,349, an average monthly mortgage payment of $776, and an average home price of $191,536, Tampa has one of the nation’s lowest breakeven scores, at 4.1.

Other cities with low breakeven points include Miami (4.0), Austin (3.7), and Philadelphia (2.9).

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