Cost Gap Narrows Between Buying vs. Renting

Lower mortgage rates and moderating home prices are making purchasing a home over renting more tempting in several of the nation’s metros, according to realtor.com®’s newly released Rent vs. Buy report. While the gap is starting to narrow between buying and renting nationwide, it is still more expensive to purchase a home in the majority of larger metros than rent.
The median monthly cost to purchase a U.S. home was $1,600 in the fourth quarter of 2019, about 30% of the national median household income. Meanwhile, the median monthly rent was $1,319, which represents about 25% of the median household income.
Continue… https://magazine.realtor/daily-news/2020/01/29/cost-gap-narrows-between-buying-vs-renting