NYC one of most sensible places to rent
November 22, 2010 02:00PM
It makes more financial sense to rent rather than buy a home in New York City, MSNBC reported, ranking the Big Apple number one on its list of national cities that are most ideal for renting. With an average home price of $1.88 million, Trulia puts the Big Apple\’s rent-to-buy index at 35, meaning that it would take 35 years of renting before matching a homeowner\’s expenses. Rounding out the top three on MSNBC\’s list were Seattle, Wash. — whose homes have an average list price of $585,073 with a rent-to-buy index of 31 — and Fort Worth, Tex., with an average price of $207,730 and a rent-to-buy index of 30. Other cities that made the list were Omaha, Sacramento, Kansas City, Portland, San Diego, San Francisco and Boston. [MSNBC]
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