A report from Realtor.com found that Richmond is where there is the greatest year-over-year dollar savings in renting vs. owning a home.
There, the cost to buy a starter home was $1,107 (74.2%) higher than the cost to rent one. That is up from the $411 (27.5%) premium the year earlier, meaning occupiers would save an additional $696 than buying when compared to the same time last year.
Los Angeles, Nashville, Phoenix, Memphis, and Raleigh were other top markets seeing higher savings from renting than buying in Feb 2024 when compared to a year ago.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
