Thousands of people have the dream of being able to buy property in the United States. They are attracted to the idea of having an asset that will almost certainly grow in value in the future and allow them to live more comfortably. But beware, In some cities, although it may seem hard to believe, it is much cheaper to rent a home than to buy one.
Considering the above, it is very important that those interested in buying a house do their accounts correctly because, for example, In New York, a person ends up paying more as a homeowner, due to mortgage costs and maintenance, compared to rent.
According to a report by SmartAsset, In some cities there is a significant difference between the monthly costs of owning a home and renting it.. To carry out their analysis they considered 347 metropolises with a population of more than 100,000 people.
Considering their estimates, they highlight that in six California cities, property costs are up to US$2,000 higher, compared to what rent would mean.
- Berkeley, California
- San francisco California
- Oakland, California
- Elizabeth, New Jersey
- Glendale, California
- Pasadena, California
- Los Angeles California
- Sandy Springs, Georgia
- Seattle, Washington
- New York, NY
San Francisco, California, is one of the cities where it is more expensive to buy than rent a property.
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California, the state where it is cheaper to rent than to buy
Although cities from New Jersey, Georgia, Washington and New York appeared in the classification, the reality is that California takes first place in the number of cities where it is most affordable to rent a property to buy it.
In detail, the SmartAsset study indicates that, for example, andn Berkeley, the average monthly rent is $2,009, while owners usually pay more than US$4,000.
At the same time, in San Francisco, the second city where homeowners pay the most, The average monthly gross rent is US$2,308, while the average monthly cost of a home is more than US$4,000. That means a single person who wants to live comfortably in the area will need an average salary of $119,558.
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