Home Ownership Trumps Renting in 74% of Cities, Survey Says

Low interest rates and falling home values have made home ownership make more financial sense than renting in most major cities, according to Trulia’s Summer Rent vs. Buy Index.

Trulia found that buying a home is cheaper than renting in 74 percent of the country’s 50 largest cities. Trulia compared the cost of buying and renting a two-bedroom apartment, condo, or townhouse in the nation’s 50 largest cities.

Buying a home particularly in cities plagued by foreclosures proves to be much cheaper than renting, according to Trulia.

Source: “Home Ownership Beats Renting in 74 Percent of Major U.S. Cities,” Trulia (Aug. 16, 2011)