Markets Where Buying Doesn’t Beat Renting By Much

May 13, 2015

In the long run, buying a home makes more financial sense than renting. But in several markets, homeowners will take much longer to finally breakeven.

On top of the list where renting isn’t much more expensive than buying is Honolulu, where it is 16 percent cheaper to buy than rent. With homeowner’s association fees added to that, it actually becomes only 1 percent cheaper, CNN Money reports.

Most of the markets where buying isn’t much cheaper than renting are in California: San Jose, Sacramento, and San Francisco. The last city to make the top five is Lancaster, Penn.

Read more

Sign up for Pro Builder Newsletters
Get the latest news and updates.

Related

139805716 © Andrii Yalanskyi | Dreamstime.com
Wooden blocks with coins and the word 'wage' and an up arrow
5130118 © Mark Hryciw | Dreamstime.com
Single-family home under construction