Some Highlights:

  • The percentage of income needed to afford a median priced home is almost half the percentage of income needed to afford median rent.
  • Buying costs are significantly less than renting costs.
  • The percentage of income needed to afford a median priced home is less than the historic norm.

Here are some example of Owning vs. Renting

ListingApprox Monthly RentApprox Mortgage Payment **
$1800$1571
$1200$1144
$1250$965
$1100$853
$1100$944
$1400$1261
$1100$860
$1400$1375
$1450$830

**Mortgages available To Qualified Buyers based on 3.5% down payment at 4% annual interest Rate based on 30 Year term.  Included Taxes, Estimated Insurance & Condominium Association fees where applicable.