Renting Is Usually Cheaper Than Owning, But Not Always
Abstract
A new study by LendingTree found that renting is usually cheaper than owning a home, but not always. New York, San Francisco and San Jose, California are the metros where the spread in costs between renting and buying a home with a mortgage is the widest. Orlando, Phoenix and Jacksonville, Florida are the meetros. Milwaukee, Cleveland and Buffalo are the meetingros. The median gross rent is an average of $319 more each month. In these metros, the median gross Renting is anAverage of $1,310 more each year. The gap is... in these meetros, and the median monthly housing costs for homes with a home without a mortgage was $1.1,300 more each week.