Attention Renters: Buying Is Now Cheaper

buying versus renting
buying versus renting

Buying is now cheaper than renting in nearly three-quarters of the 50 largest cities in the United States, according to data from a rent versus buy index released this week. While there are some notable big-city exceptions where renting is more affordable -- Seattle, New York, San Francisco and Kansas City -- in other large metro areas including Las Vegas, Phoenix, Sacramento, and Miami, real estate agents and ownership advocates can claim a small victory.

The numbers may encourage fence-sitters to finally buy a bargain, or offer renters justification for sitting out the ownership market. But as with any index, there are lots of variables at play, and living in a market with an index score tilted toward buying doesn't necessarily mean that's a slamdunk decision, as Reuters notes.