It’s actually cheaper to buy than rent in 74 percent of major U.S. cities, according to data from real estate search engine site Trulia. So as high rates of foreclosure continue to send home values down and rents up, there’s one group who stands to score a big win in these cheaper-to-own areas: buyers.
Trulia’s Rent vs. Buy Index ranks America’s 50 largest cities in order of price to rent ratio, comparing the median rent on 2-bedroom apartments, condos and town homes to the median listing price of similar homes. Ratios that are 15 and under indicate buying is less expensive than renting in that city, while ratios that are 20 or higher indicate renting is less expensive than buying.
Here are 10 houses for sale located in the best cities to buy a home.
