Not sure if renting or buying is the right move? Check out the chart below for some more detailed analysis:
The Bottom Line: For most of the product lines, it only costs about 1% of purchase price more to own than to rent with prevailing trends. And with the market expanding at 5-10% per year depending on the submarket, that capital appreciation buries this delta.
I’ve never seen an imbalance like this between owning and renting, especially in the urban markets. While it's true most new residents will rent for a term or two, eventually the draw to buy into the marketplace will take hold for many and we need to look at those massive apartment towers like incubators for a new generation of homeowners.