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.