Every time you write a rent check, you hate feeling like you’re paying someone else’s mortgage, but actually having a mortgage is a scary commitment. If you’re wondering whether to take the leap and make an investment in your own place, take a look at MintLife’s list of top ten cities to buy vs. rent (and vice-versa). They based their list on a ratio of average rent to average home prices, comparing just two-bedroom apartments, condos and townhouses.
Top Ten Cities to Buy vs. Rent:
In these cities, the ratio of price to rent was under 15, making them a smart investment, according to Mint.com.
San Antonio, TX
El Paso, TX
Las Vegas, NV
Top Ten Cities to Rent vs. Buy:
In these cities, the ratio of price to rent was above 15, making it better to rent than buy.
San Diego, CA
Kansas City, MO
Oklahoma City, OK
San Francisco, CA
New York, NY