Tag

Rent Vs Buy

All articles tagged with #rent vs buy

Lessons from 'Elf' on Navigating Today's Cost of Living

Originally Published 22 days ago — by CNBC

The article uses the movie 'Elf' to explore the high cost of living in New York City, highlighting that buying a home there is often more expensive than renting, with current median prices around $2.5 million and rent around $9,175 per month. It discusses the financial considerations of buying versus renting, including the impact of rising home prices, mortgage rates, and personal financial planning, emphasizing that housing decisions are also influenced by lifestyle preferences and financial security. The piece illustrates how high living costs can affect savings and retirement planning, especially for those moving to big cities for success.

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Comparing Rent and Buying Options in South Florida: Latest Survey Results

Originally Published 2 years ago — by USA TODAY

Renting is cheaper than buying a home in 45 out of the 50 largest metropolitan areas in the United States, according to a new analysis by Clever. The study analyzed the price-to-rent ratio, which is calculated by dividing the median home price by the median annual rent and compares the cost of buying a home to the cost of renting expressed as a ratio. A ratio of 15 or lower generally means it's better to buy, while 21 or higher means it's better to rent. Three metros with very expensive homes — San Jose, San Francisco and Los Angeles— had the largest average gap between renting and buying in 2023.

business real-estate home-prices housing-market metropolitan-areas price-to-rent-ratio real-estate rent-vs-buy