Top 10 cities to buy vs. rent.

An analysis of the largest 50 cities in America, calculating the price-to-rent ratio comparing the average list price in each city with the average rent for two bedroom apartments, townhomes and condos, and naming the top 10 cities best for buying and top 10 for renting. Althought we are at a time of uncertainty, the general concensus among economists is that the market is working through short sale inventory (the foreclosures are virtually gone in Downtown Minneapolis) and healthy supply and demand is 2-3 years away (1%-3% annual appreciation).

The analysis is based on costs of home ownership (including “mortgage principal and interest, property taxes, hazard insurance, closing costs at time of purchase and ongoing HOA dues and private mortgage insurance, where applicable. Total costs of homeownership include an offset for the tax advantages of homeownership, including mortgage interest, property tax and closing cost deductions”) as well as costs of renting (rent as well as renter’s insurance).

Home sellers in the top 10 areas are forced to lower their prices to compete with all the short sales/foreclosures on the market. As a result, these unattainable markets are so affordable it makes better financial sense to buy than rent.

Top 10 cities to buy vs. rent

1. Minneapolis, MN
2. Arlington, TX
3. Miami, FL
4. Fresno, CA
5. San Antonio, TX
6. Mesa, AZ
7. Jacksonville, FL
8. Phoenix, AZ
9. El Paso, TX
10. Las Vegas, NV

Top 10 cities to rent vs. buy

1. New York, NY
2. Omaha, NE
3. Seattle, WA
4. Portland, OR
5. San Francisco, CA
6. Oklahoma City, OK
7. Kansas City, MO
8. San Diego, CA
9. Cleveland, OH
10. Dallas, TX

There is a lot of free information available to you about buying, selling or investing in Downtown Minneapolis Condos. For complete information about the Downtown Minneapolis Condo market including current Minneapolis condos for sale, values, and more please visit the most complete website online dedicated to everything Downtown Minneapolis Condos at www.LivingInDowntownMinneapolis.com. Contact me, Mike Weiland with Edina Realty with any of your condo or mortgage related questions today. Call 612-735-6834 or email mike@mikeweiland.com.

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