RISMedia
  • News
  • Premier
  • Reports
  • Events
  • Power Broker
  • Newsmakers
  • More
    • Publications
    • Education
No Result
View All Result
  • Agents
  • Brokers
  • Teams
  • Marketing
  • Coaching
  • Technology
  • More
    • Headliners New
    • Luxury
    • Best Practices
    • Consumer
    • National
    • Our Editors
Join Premier
Sign In
RISMedia
  • News
  • Premier
  • Reports
  • Events
  • Power Broker
  • Newsmakers
  • More
    • Publications
    • Education
No Result
View All Result
RISMedia
No Result
View All Result

Homeownership More Affordable Than Renting in 72 Percent of Major U.S. Cities

Home Marketing
January 24, 2011
Reading Time: 2 mins read

RISMEDIA, January 25, 2011—Trulia.com, a top site for home buyers, sellers and renters, released its latest Rent vs. Buy Index which found that it is more affordable to buy than to rent a two-bedroom home in 72% of America’s 50 largest cities. Meanwhile, a nation of renters has emerged as more Americans rent by choice or due to unforeseen financial difficulties. In contrast to this nationwide trend, renting is only less expensive than buying in four of the cities included in this study—namely New York, Seattle, Kansas City and San Francisco. The remaining 10 cities are locations where buying may still be a financially sound long-term decision despite the relative affordability of renting.

“Since the start of the ‘Great Recession,’ many former homeowners have flooded the rental market. Following the principles of supply and demand, renting has become relatively more expensive than buying in most markets,” said Pete Flint, CEO and co-founder of Trulia. “Though necessary for achieving true economic recovery, stricter bank lending practices have also further aggravated the struggling housing market in the short term. Even highly-qualified home buyers face intense scrutiny on their income, savings, existing debt and credit history before they can get a mortgage loan.”

Cities overwhelmed by foreclosure filings and unemployment, including many cities in Florida, Arizona, Nevada and central California, typically correspond to more affordable markets for prospective buyers; however, there are exceptions.

Oakland and Los Angeles, which are experiencing similar rates of unemployment or foreclosure filings as Phoenix, Miami and Sacramento, are still more affordable to renters. Moreover, close proximity to economic centers with promising job growth projections has propped up both the demand for homes and costs of homeownership in Oakland and Los Angeles.

“Although owning a home is relatively more affordable in most cities, market conditions have caused an interesting demographic swap between traditional renters and buyers,” said Tara-Nicholle Nelson, Consumer Educator for Trulia. “For example, lifelong renters are seizing the opportunity to become homeowners while affordability is high. At the same time, a growing number of long-time homeowners are finding themselves tenants—some by choice and others by necessity.”

For more information, visit www.trulia.com.

ShareTweetShare

Related Posts

household
Industry News

Household Growth Projected to Decline in Coming Decade

October 1, 2025
Redfin
Agents

Five States Join FTC in Suing to Block Zillow-Redfin Deal

October 1, 2025
Great Spaces: A Victorian Landmark in Historic Georgia
Industry News

Great Spaces: A Victorian Landmark in Historic Georgia

October 1, 2025
Industry News

Mortgage Applications Back on Downward Trajectory, Declining Nearly 13%

October 1, 2025
Industry News

Analysis: Full ‘Decoupling’ Would Cut Commissions in Half

October 1, 2025
Cook
Industry News

Supreme Court Rules Lisa Cook Can Remain on Fed for Time Being

October 1, 2025
Tip of the Day

Are Open Houses Still Worth It in Today’s Market?

With all of the access homebuyers have to inventory online, the true freedom of attending open houses on their own time and being able to browse before they buy will never go away. With more.

Business Tip of the Day provided by

Recent Posts

  • Household Growth Projected to Decline in Coming Decade
  • Five States Join FTC in Suing to Block Zillow-Redfin Deal
  • Great Spaces: A Victorian Landmark in Historic Georgia

Categories

  • Spotlights
  • Best Practices
  • Advice
  • Marketing
  • Technology
  • Social Media

The Most Important Real Estate News & Events

Click below to receive the latest real estate news and events directly to your inbox.

Sign Up
By signing up, you agree to our TOS and Privacy Policy.

About Blog Our Products Our Team Contact Advertise/Sponsor Media Kit Email Whitelist Terms & Policies ACE Marketing Technologies LLC

© 2025 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.

No Result
View All Result
  • Home
  • Premier
  • Reports
  • News
    • Agents
    • Brokers
    • Teams
    • Consumer
    • Marketing
    • Coaching
    • Technology
    • Headliners New
    • Luxury
    • Best Practices
    • National
    • Our Editors
  • Publications
    • Real Estate Magazine
    • Past Issues
    • Custom Covers
  • Events
    • Upcoming Events
    • Podcasts
    • Event Coverage
  • Education
    • Get Licensed
    • REALTOR® Courses
    • Continuing Education
    • Luxury Designation
    • Real Estate Tools
  • Newsmakers
    • 2025 Newsmakers
    • 2024 Newsmakers
    • 2023 Newsmakers
    • 2022 Newsmakers
    • 2021 Newsmakers
    • 2020 Newsmakers
    • 2019 Newsmakers
  • Power Broker
    • 2025 Power Broker
    • 2024 Power Broker
    • 2023 Power Broker
    • 2022 Power Broker
    • 2021 Power Broker
    • 2020 Power Broker
    • 2019 Power Broker
  • Join Premier
  • Sign In

© 2025 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.

X