{"id":1980,"date":"2017-10-17T10:00:06","date_gmt":"2017-10-17T10:00:06","guid":{"rendered":"https:\/\/thezakariagroup.com\/buying-remains-cheaper-than-renting-in-39-states\/"},"modified":"2017-10-17T10:00:06","modified_gmt":"2017-10-17T10:00:06","slug":"buying-remains-cheaper-than-renting-in-39-states","status":"publish","type":"post","link":"https:\/\/thezakariagroup.com\/buying-remains-cheaper-than-renting-in-39-states\/","title":{"rendered":"Buying Remains Cheaper Than Renting in 39 States!"},"content":{"rendered":"
\n

\"\"<\/p>\n

In the latest Rent vs. Buy Report<\/em><\/a> from\u00a0Trulia, <\/em>they explained that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States.<\/span><\/p>\n

The updated numbers show that the range is an average of 3.5% less expensive in San Jose (CA), all the way up to 50.1% less expensive in Baton Rouge (LA), and 33.1% nationwide<\/strong>!<\/p>\n

A study\u00a0by\u00a0GoBankingRates<\/em><\/a> looked at the cost of renting vs. owning a home at the state level and concluded that in 39 states, it is actually \u2018a little\u2019 or \u2018a lot\u2019 cheaper to own (represented by the two shades of blue in the map below).<\/p>\n

\"Buying<\/a><\/p>\n

One of the main reasons owning a home has remained significantly cheaper than renting is the fact that interest rates have remained at or near historic lows.\u00a0Freddie Mac<\/em>\u00a0reports<\/a> that the current interest rate on a 30-year fixed rate mortgage is 3.91%.<\/p>\n

Nationally, rates would have to reach 9.1%, a 128% increase over today\u2019s average of 4.0%, for renting to be cheaper than buying. Rates haven\u2019t been that high since January of 1995, according to Freddie Mac<\/em>.<\/strong><\/p>\n

Bottom Line<\/strong><\/h3>\n

Buying a home makes sense\u00a0socially<\/a>\u00a0and\u00a0financially<\/a>. If you are one of the many renters who would like to evaluate your ability to buy this year, let\u2019s get together and find you your dream home.<\/p>\n<\/div>\n

Powered by WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

In the latest Rent vs. Buy Report from\u00a0Trulia, they explained that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States. The updated numbers show that the range is an average of 3.5% less expensive in San Jose (CA), all the way up […]<\/p>\n","protected":false},"author":101010,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[98,99,104,101,111],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"\nBuying Remains Cheaper Than Renting in 39 States! - The Zakaria Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thezakariagroup.com\/buying-remains-cheaper-than-renting-in-39-states\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Buying Remains Cheaper Than Renting in 39 States! - The Zakaria Group\" \/>\n<meta property=\"og:description\" content=\"In the latest Rent vs. Buy Report from\u00a0Trulia, they explained that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States. 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