The Daily Stat: The Buy-Versus-Rent Advantage in the U.S. Extends Coast to Coast

 

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March 11, 2014 The Buy-Versus-Rent Advantage in the U.S. Extends Coast to Coast Even though home prices and mortgage rates have been rising, rents have been rising too, so it's still substantially cheaper to buy a home than to rent in major U.S. cities, assuming you're planning to stay in the home a while. In comparison with renting, you'll save 22% in New York City, 24% in Los Angeles, 34% in Washington D.C., 38% in Miami, 41% in Dallas, 45% in Houston, 46% in Philadelphia, 47% in Chicago, and 52% in Atlanta, if you remain in the home for seven years, according to figures quoted by CNN. SOURCE: Buy vs. rent: What you'll pay in the 10 biggest cities

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