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Zillow : Buying better than renting in three years or less – Sun Sentinel

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Zillow: Buying better than renting in three years or less

By Paul Owers August 2, 2012 07:00 AM

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For many people in South Florida and across the nation, buying a home beats renting in three years or less.

Real estate website Zillow.com analyzed the break-even point – the amount of time it takes before owning is better financially than renting. Buyers in West Palm Beach and Miramar break even in 1.4 years, while it takes a little longer in Fort Lauderdale – 2.8 years.

The South Florida area — which includes Palm Beach, Broward and Miami-Dade counties — is tied with six other major metros for the shortest amount of time — 1.6 years.

To find out what the magic number is in your city, click here.

Big price declines during the housing bust and a rise in rental rates have made buying an attractive option these days.

“This is the first analysis of metros and cities that presents the buy-versus-rent decision in an intuitive way, by telling consumers how long they must live in the home before buying breaks even with renting financially,” Zillow Chief Economist Stan Humphries said. “It’s much more understandable, and therefore useful, than the abstract notion of a simple ratio of prices to rents.”

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About jennyformiamihome

성심껏 도와드리겠습니다. 연락주시면 바로 상세히 답변드립니다. Jenny Shin / 신정미 부동산 (Broker's Real Estate) 남부 플로리다 마이애미 지역 한인 부동산 주택매매 렌트 싱글하우스 타운하우스 콘도 브라워드 카운티 마이애미 데이드 카운티 포트로더데일 웨스턴 코랄스프링 도랄 Rent or Buy single house, town house and Condo Miami Dade County / Broward County, fort lauderdale, coral springs, copper city, weston, doral 1398 SW 160TH AVE. SUITE 105 Weston, FL. 33326 Direct : 954-551-0236 Office : 954-384-1616 Fax : 954-697-0447 E-mail : jenny_shin62@hotmail.com

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JENNY SHIN PROFILE


Jenny Shin / 신정미 부동산
(Broker's Real Estate)
1398 SW 160TH AVE. SUITE 105
Weston FL 33326
Direct : 954-551-0236
Office : 954-384-1616
Fax : 954-697-0447
E-mail : jenny_shin62@hotmail.com

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