LOS ANGELES – July 27, 2017 – Arizona, Nevada and Washington, D.C. are among the 11 states where it's more affordable to rent than it is to buy a home. But owning a home still beats renting in Florida, according to a study by website GOBankingRates.
GoBankingRates surveyed all 50 states and the District of Columbia, and identified which states are best for buying a home and which are better suited for renting. The study, based on rental data on Zillow, was sourced to June 28, 2017. For the cost of owning, the study assumed a 20-percent downpayment on a 30-year fixed loan.
In Florida, homeowners have the advantage. TheyGOBankingRates studyfound that the average monthly rent of $1,543 is $167 higher than the cost of an average monthly mortgage of $1,376. The difference amounts to about $2,000 per year that the average Florida family would save by owning rather than renting, though actual savings would differ by metro area and other variables.
The 11 states where renting a home is less expensive than buying one include Arizona, Colorado, Washington, D.C., Hawaii, Idaho, Montana, Nevada, North Carolina, Oregon, Utah and Wyoming.
Author:Eva Magnusson Phone: 561-287-1651 Dated: July 30th 2017 Views: 1,432 About Eva: ...
View our latest blog posts in your RSS reader. Click here to access.
Buying or selling a home is one of the largest financial decisions you will make in your lifetime, and the Ty Fraley Home Team is the best choice of professionals to help you with your needs. We have been involved in hundreds of real estate transactions helping buyers and sellers realize their goals. Whether you are a first time buyer or a seasoned veteran, we’re here to help make this easy for you. We pride ourselves in listening to your needs and working together to get you exactly the results you want. We work with professionalism and integrity. In fact Ty Fraley is a chairman of the Professional Standards and Ethics Committee in the Palm Beach County Board of Realtors. If you want to be treated honestly and respectfully, you’ve come to the right team. We have many years of experience with waterfront property, country club golf communities, luxury condominiums, and family oriented neighborhoods. These times can be a very stressful, and we pride ourselves in removing you from the chaos. Whether you are moving from around the world or around the corner, we help guide you through the entire process. We also have a tried and true network of help, from financial planners to trustworthy contractors. Because we understand and care about you, you will never be a number with us. You are dealing directly with the owner and broker of Southeast Realty. The thing we find amazing ourselves is that over 80% of our business comes from referrals of past clients and repeat business. Our clients are welcomed into our family where we frequently keep in touch and are always available to you for any future questions you may have. It would be our honor to work with you, and we look forward to a long lasting relationship.