Real estate is on everybody's mind these days. You don't have to be a realtor anymore to understand the effects of housing on our nation, employment rate, investments and everything in between. A new report from real estate search engine Trulia says that in 98 out of 100 largest metropolitan areas it's more cost effective to buy a house versus to rent one. The latest Rent vs Buy index reports that only San Francisco and Honolulu rank as "iffy bets."
The local Jacksonville movers learned that Detroit, Oklahoma City, Dayton and Ohio rank as the top American cities when it comes to owning versus renting, with a greater value for homeowners. Trulia bases these statistics on their price-to-rent ratio, which they do by multiplying average monthly rents by 12. As the rents go up, owning becomes more affordable for people. Low vacancy is also what is keeping the rents high up there. According to the latest research, only 5.3% of rental units were not rented to tenants. The Jacksonville moving specialists learned that what may be stopping some people from buying is affording that first down payment. Toledo, Grand Rapids, Cleveland, Atlanta and Memphis are also part of those metropolitan areas where owning a home is better than renting.
So do you own a home in Jacksonville or rent?
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