Trulia recently announced America’s Top 10 Cities to Buy vs. Rent and the Top 10 Cities to Rent vs Buy. Minneapolis was determined to be the #1 place to buy rather than rent.
Trulia calculated the price-to-rent ratio using the average list price compared with average rent on 2 bedroom apartments, condos and townhomes listed on Trulia.com. To create the list, Trulia analyzed the largest 50 cities in America, by population.
Top 10 Cities to Buy vs. Rent
| City | Price-to-Rent Ratio | |
| 1. | Minneapolis, Minnesota | 8 |
| 2. | Arlington, Texas | 8 |
| 3. | Miami, Florida | 8 |
| 4. | Fresno, California | 8 |
| 5. | San Antonio, Texas | 8 |
| 6. | Mesa, Arizona | 9 |
| 7. | Jacksonville, Florida | 9 |
| 8. | Phoenix, Arizona | 10 |
| 9. | El Paso, Texas | 10 |
| 10. | Las Vegas, Nevada | 11 |
“At the peak of the real estate bubble, cities like Miami, Phoenix and Las Vegas were not affordable for many. Now the opposite is true,” said Pete Flint, co-founder and CEO of Trulia. “Home sellers in these hard hit areas are forced to lower their prices to compete with all the foreclosures on the market. As a result , these unattainable markets are so affordable it makes better financial sense to buy than rent.”
Top 10 Cities to Rent vs. Buy
| City | Price-to-Rent Ratio | |
| 1. | New York, New York | 33 |
| 2. | Omaha, Nebraska | 26 |
| 3. | Seattle, Washington | 25 |
| 4. | Portland, Oregon | 22 |
| 5. | San Francisco, California | 22 |
| 6. | Oklahoma City, Oklahoma | 21 |
| 7. | Kansas City, Missouri | 20 |
| 8. | San Diego, California | 20 |
| 9. | Cleveland, Ohio | 20 |
| 10. | Dallas, Texas | 19 |
Comments