Is It Really Better To Rent These Days Than Buy? Price-To-Rent Ratios Tell The Story.

is it really better to rent these days than buy price to rent ratios tell the story

Sumary of Is It Really Better To Rent These Days Than Buy? Price-To-Rent Ratios Tell The Story.:

  • As the graph above shows, price-to-rent ratios vary widely across the county.
  • That’s a price-to-rent ratio of 51.8: when house prices are that high, renters tend to come out ahead.
  • According to Redfin, the percentage of homes in Detroit that have been purchased by investors is up 119%.
  • According to data from Redfin, investors have the highest market share in Phoenix, Miami and Atlanta, where price-to-rent ratios vary from 20.1 to 23.8. With those more moderate price-to-rent ratios, residents would typically find that buying was a smarter financial move than renting as long as they planned to stay put for between 5 to 9 years.
  • The idea that it’s good for Americans to be consigned to renting because home prices are so high ignores the fact that the desire of corporate America to turn single-family homes into rentals is part of the reason the home prices are high to begin with.
  • Historically, homes in lower-income neighborhoods in a given city have tended to come with lower price-to-rent ratios than homes in higher-income neighborhoods within the same city.

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