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Rent vs. Own? The Best Option in Each State

Posted by Tom Rott on Sunday, August 6th, 2017 at 1:14pm.

Rent vs. Own? The Best Option in Each State Home prices may be on the rise across the country, but you’re still better off buying a home in most states in the U.S. than renting one. Consumers in only 11 states will find renting more affordable than buying a home, according to a new study by GOBankingRates, a personal finance website.

GOBankingRates analyzed the cost of renting versus owning a home in all 50 states and the District of Columbia. Researchers looked at estimated rent prices for all homes listed on a real estate website. It then calculated the estimated monthly mortgage to own a home in each state, based on the median list price of homes, a 20 percent down payment, and a 30-year fixed-rate loan.


Read more here:
https://www.gobankingrates.com/mortgage-rates/cost-renting-vs-owning-home-state-2017/


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