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Rental or Own? What’s Cheaper?

Wall hanging of the word homeRental Vs. Owning

Recently in an article written by Benjy Egel of The Sacramento Bee, “Median home ownership and rental prices are further apart in the Sacramento metropolitan area than nearly any of the most populous U.S. regions, according to an Urban Institute report released Monday.

”The 6.5 percentage-point “rent gap” is fifth-highest in the nation, with San Francisco, San Jose, Seattle and San Diego metropolitan areas all showing greater discrepancies.”

“Median home resale values in Sacramento County rose by 10 percent from October 2016 to October 2017, CoreLogic reported last week. Urban Institute’s study, which included CoreLogic data, reported Sacramento-area homes were the eighth-most expensive of the 33 areas surveyed, while rental properties ranked 15th.”

If you are curious about this gap and how it affects you, check out this tool provided by Zillow.

Rent vs. Buy Calculator

Would you like to know what you can afford to pay for rent? Have a look at this calculator from Zillow.

Rent Affordability Calculator

Sources:

Sacramento Bee: “Cheaper to rent than own a house in Sacramento in one of nation’s widest gaps, report finds” By Benjy Egel

 

Zillow.com: Rent Vs. Buy Calculator and Rent Affordability Calculator

Posted by: horizon on December 15, 2017
Posted in: Uncategorized