1. New York, New York Price-to-rent ratio: 32.59 Average home list price: $1,383,612 Average rental price: $3,538 Doesn't 32.59 seem like a P/E ratio for Pets.com ? Check out the slide show for the top 10. http://www.cnbc.com/id/37486008/ America's Best Cities To Rent It's the age-old problem when looking for a place to live: buy or rent? To see which cities offer the best rental opportunities,... [more]
1. New York, New York
Price-to-rent ratio: 32.59
Average home list price: $1,383,612
Average rental price: $3,538
Doesn't 32.59 seem like a P/E ratio for Pets.com ?
Check out the slide show for the top 10.
http://www.cnbc.com/id/37486008/
America's Best Cities To Rent
It's the age-old problem when looking for a place to live: buy or rent?
To see which cities offer the best rental opportunities, real estate website Trulia.com conducted an analysis of the most advantageous ratios between rental prices and home values. Trulia looked at prices for two- bedroom apartments, condos and townhouses for sale and for rent in the 50 largest US metro areas. Total costs include rent and renter's insurance vs. buying a home, which includes down payment, mortgage principal and interest, insurance, closing costs, property tax and applicable tax deductions.
The report found that the best places to rent are in urban job centers where rental demand remains high and where home values have declined only slightly. Other advantageous areas are cities that have experienced more stability in home prices over the past decade and have remained regional economic centers.
To calculate the price-to-rent ratio, Trulia compared average monthly rent costs with average monthly home owner payments, arriving at a final number that identifies whether buying or renting offers a better value.
According to Trulia, a price-to-rent ratio over 21 indicates the cost of owning a home is far greater than renting, a ratio of 15 or below tips in favor of ownership is, while a ratio of 16-20 is something of a toss up, depending on individual financial situations, although owning is generally more expensive in this mid-range.
Trulia also concludes that although a city may have a renter-friendly price-to-rent ratio, it is not necessarily unwise to purchase a home there, as prices have fallen during the recession and real estate in these cities could be a potentially good long-term investment.
So, which US cities offer the best renting opportunities right now? Click ahead to find out!
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Response by aboutready
over 12 years ago
Posts: 16354
Member since: Oct 2007
You are a fan, after all.
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Response by NYCNovice
over 12 years ago
Posts: 1006
Member since: Jan 2012
He has already admitted to having eyes only for you. :-(
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Response by aboutready
over 12 years ago
Posts: 16354
Member since: Oct 2007
Creepy, no?
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Response by aboutready
over 12 years ago
Posts: 16354
Member since: Oct 2007
And I'm no fan.
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Response by NYCNovice
over 12 years ago
Posts: 1006
Member since: Jan 2012
Yes, I felt he crossed the line there.
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Response by fieldschester
over 12 years ago
Posts: 3525
Member since: Jul 2013
Hi Aboutready, how are your kid(s)?
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Response by aboutready
over 12 years ago
Posts: 16354
Member since: Oct 2007
You need medication. My kids are grand, at this moment. Who knows what could happen in the next month, but for now I'm happy.
How are your kids? Your family? Your non-existent significant other?
Ignored comment.
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Response by aboutready
over 12 years ago
Posts: 16354
Member since: Oct 2007
Goodbye. You're a creeper, as my daughter so correctly uses the term
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Response by fieldschester
over 12 years ago
Posts: 3525
Member since: Jul 2013
Back to one kid?
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Response by aboutready
over 12 years ago
Posts: 16354
Member since: Oct 2007
That's a dumb conclusion. You need real help,in critical reasoning,
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Response by fieldschester
over 12 years ago
Posts: 3525
Member since: Jul 2013
You've only been talking about one kid lately. Thought you got rid of one, after all, why would you only talk about one?
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Response by aboutready
over 12 years ago
Posts: 16354
Member since: Oct 2007
You are so not as intelligent as you think, as informed as you think, nor (and this is the big one) as clever as you think.
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Response by aboutready
over 12 years ago
Posts: 16354
Member since: Oct 2007
You are. Duh.
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Response by fieldschester
over 12 years ago
Posts: 3525
Member since: Jul 2013
You are very dismissive. I can see why things would be difficult in your home.
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Response by fieldschester
over 12 years ago
Posts: 3525
Member since: Jul 2013
I guess aboutready has gone to bed.
It is kind of sad when you go to bed before your spouse comes home.
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Response by NYCNovice
over 12 years ago
Posts: 1006
Member since: Jan 2012
Had to come back to acknowledge I now understand your point about ratio - I see your point that ratio real estate finance types were discussing is sales price vs rent rather than annual cost of owning vs of renting. Clearly I am not concerned about appearing silly as I think I have freely admitted to never really having properly analyzed real estate from a financial management perspective. It has always been consumption in my mind that thus far has never lost me money, though I am sure I would have more money today had I ever focused on that aspect of real estate.
You are a fan, after all.
He has already admitted to having eyes only for you. :-(
Creepy, no?
And I'm no fan.
Yes, I felt he crossed the line there.
Hi Aboutready, how are your kid(s)?
You need medication. My kids are grand, at this moment. Who knows what could happen in the next month, but for now I'm happy.
How are your kids? Your family? Your non-existent significant other?
Goodbye. You're a creeper, as my daughter so correctly uses the term
Back to one kid?
That's a dumb conclusion. You need real help,in critical reasoning,
You've only been talking about one kid lately. Thought you got rid of one, after all, why would you only talk about one?
You are so not as intelligent as you think, as informed as you think, nor (and this is the big one) as clever as you think.
You are. Duh.
You are very dismissive. I can see why things would be difficult in your home.
I guess aboutready has gone to bed.
It is kind of sad when you go to bed before your spouse comes home.
Had to come back to acknowledge I now understand your point about ratio - I see your point that ratio real estate finance types were discussing is sales price vs rent rather than annual cost of owning vs of renting. Clearly I am not concerned about appearing silly as I think I have freely admitted to never really having properly analyzed real estate from a financial management perspective. It has always been consumption in my mind that thus far has never lost me money, though I am sure I would have more money today had I ever focused on that aspect of real estate.
http://talkingpointsmemo.com/livewire/jon-stewart-tears-cnn-apart-for-good-thing-or-bad-thing-reporting-video
Nice blast from the past. Shows how wicked smart I am. steve, not so much......
>Nice blast from the past. Shows how wicked smart I am. steve, not so much......
Not to mention aboutready bought in the interim. And w67thstreet believes day trading is equivalent to buying an apartment