Latest Report Shows Buying Property in Miami More Affordable Than Renting
It is more affordable in Miami to buy vs rent, according to the latest Rent vs Buy Index released by Trulia.com earlier this afternoon. Miami and Las Vegas topped the list of metropolitan cities where it is more affordable to buy rather than rent. The report compared the cost of leasing a 2 bedroom home with the cost of ownership. An increase in demand from renters along with a shrinking inventory has caused the pendulum to shift in the opposite direction.
In contrast, the above list shows the top 10 cities where it is still more affordable to rent vs buy along with their associated price-to-rent ratio.