Cheaper to buy than rent in most of Florida
Owning a median-priced home is more affordable than the average rent on a three-bedroom property in 58% of the U.S., a new report says.
- But there's a big city/suburban divide, Axios' Jennifer Kingston reports: Renting makes more sense in big metropolitan areas while homeownership wins out in rural areas and suburbs with lower property prices.
Why it matters: Even with home prices continuing to climb, the affordability gap is narrowing, which may signal the imminent end to what's been a steady run-up in home prices.
Zoom in: Among Tampa Bay counties, it's cheaper to rent rather than buy in Pinellas and Manatee, but cheaper to buy in every other county.
Go deeper: Take a look at the national version.
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