New York City Best and Worst Place to Rent
Rent, or buy? Buy or rent??
We know you think this when you shave, when you jog, when you commute, when you everything. Luckily, Trulia.com just posted this handy Rent vs. Buy Index rating the nation’s median rent vs. the median housing costs, and it sure puts into perspective just how unique New York is (it’s the biggest and reddest!).
Trulia’s Rent vs. Buy Index tracks whether buying a home or renting is less expensive.com in America’s 50 largest U.S. cities by population. The price-to-rent ratio is calculated using the average list price compared with average rent on two bedroom apartments, condos and townhomes listed on Trulia.com.
Where, say, Chicago’s average sale listing price was $200K-$300K, New York’s was $1.3-$1.4million. The second most expensive city was San Francisco at $700K-$800K.