Owning a Home 45% Cheaper than Renting

The real estate search engine Trulia says it is now on average 45% less expensive to buy than to rent a home. Trulia conducted a study called the Summer 2012 Rent vs. Buy Report in 100 American cities. While the buy-versus-rent savings varied greatly among the cities, buying was the best choice in all 100 markets. To conduct the study, Trulia looked at the homes for sale and rent on its own site between June 1 and Aug. 31, 2012. One Florida metro area made the top five list for home buying affordability. According to Trulia, the monthly cost of homeownership in Lakeland-Winter Haven is $495, while the cost of renting is $1,276 – a 61% ($781) savings for those who choose to buy rather than rent.

Read the full Florida Realtors article.

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Coral Gables Market Update

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