A new study shows that in more than three-fourths of 200 metro areas in the U.S., home owners would “break even” financially by owning a home after three years or less than if they opted to rent instead.
The recent study by Zillow factors in home ownership costs -- including down payments, closing costs, mortgage payments, property taxes, utilities, and maintenance costs -- and compares it to the costs of renting. The study supports other recent findings that show with rents are on the rise nationwide that home ownership is becoming increasingly affordable with record low mortgage rates and falling home values. read more
The recent study by Zillow factors in home ownership costs -- including down payments, closing costs, mortgage payments, property taxes, utilities, and maintenance costs -- and compares it to the costs of renting. The study supports other recent findings that show with rents are on the rise nationwide that home ownership is becoming increasingly affordable with record low mortgage rates and falling home values. read more
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