Pros and Cons of Renting vs. Owning
To rent or buy, that is the question. The decision to rent or buy can be a major one. A recent study by PropertyShark and RentCafe analyzed discretionary income in the top 50 largest cities. According to this study, 44 out of the 50 cities studied found that renting may not always be the best option. According to data, “Saving money while earning the median household income seems impossible in most cities, and in those cases where you can save, the amount is quite low.” In more than half of the 50 cities, most renters could hardly make it until payday. Homeowners tend to do well in these large cities. Dependent on location, owners were able to save anywhere between $2,600 and $4,500 and in some cases even more.”Owners have it generally better than renters and can save in almost any city without cutting expenditures – but there are a few exceptions.”
Homeowners Stand to Save More Than Renters – Realtor Magazine
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