Housing Markets Where Waiting to Buy Could Really Cost You

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By Emily Heffter

Home values are increasing across the country and interest rates are likely to rise in the next year. That means buying a home is going to get more expensive. But how much more expensive? To find out, Zillow calculated the difference in monthly payments on the same house purchased today and a year from now. We assumed home values would increase and added 1 percentage point to today's mortgage rate.

In some markets, waiting a year won't cost you much. But in others -- like the nation's 10 hottest markets -- putting off a purchase for a year could cost you hundreds of dollars every month.

11 PHOTOS
Hot Markets Where Waiting to Buy Might Really Cost You
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Housing Markets Where Waiting to Buy Could Really Cost You

This house at 4550 S.W. Martha St. in Portland is listed for $294,900.

Buy it now: $1,658/month.

Buy it in a year at a higher rate: $1,885/month.

Difference: $227.

See other Portland homes for sale.

This house at 35 Goethe St in Boston is listed for $429,900.

Buy it now: $2,158/month.

Buy it in a year at a higher rate: $2,575/month.

Difference: $417.

See more Boston homes for sale.

This studio apartment at 205 3rd Ave. Apt 17L, is listed for $535,000.

Buy it now: $2,670/month.

Buy it in a year at a higher rate: $3,083/month.

Difference: $413.

See more homes for sale in Manhattan.

This three-bedroom, two-bath home at 1953 Acari Ave. in Sacramento is listed for $249,994.

Buy it now: $1,263/month.

Buy it in a year at a higher rate: $1,521/month.

Difference: $258.

See other Sacramento homes for sale.

This home in West Seattle at 4406 S.W. Walker St. is listed for $475,000.

Buy it now: $2,378/month.

Buy it in a year at a higher rate: $2,813/month.

Difference: $435.

See more homes for sale in Seattle.

This home at 2437 Carlton Place in Riverside is on the market for $300,000.

Buy it now: $1,526/month.

Buy it in a year at a higher rate: $1,929/month.

Difference: $403.

See other Riverside homes for sale.

This townhouse at 10555 Debreceni Way, Unit 5, in San Diego is for sale for $459,000.

Buy it now: $2,300/month.

Buy it in a year at a higher rate: $2,817/ month.

Difference: $517.

See more San Diego homes for sale.

This studio apartment at 1100 Wilshire Blvd., Apt 2510 in Los Angeles is for sale for $530,000.

Buy it now: $2,645/month.

Buy it in a year at a higher rate: $3,162/month.

Difference: $517.

See other homes for sale in L.A.

This four bedroom house at 39 Fairfield Way in San Francisco is listed at $995,000.

Buy it now: $4,908/month.

Buy it in a year at a higher rate: $5,857/month.

Difference: $949

See more homes for sale in San Francisco.

This updated home in San Jose at 581 Minnesota Ave. is listed for $725,000.

Buy it now: $3,594/month.

Buy it in a year at a higher rate: $4,293/month.

Difference: $699.

See other San Jose homes for sale.

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