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Better to buy than rent in Phoenix, Miami, Chicago

by Dalton Herring on January 11, 2017

chasecapture-17It’s slightly better to buy a house than rent in Phoenix, according to new report from Attom Data Solutions.

The real estate research firm compared housing costs in U.S. markets and how those compare to wages.

The median home prices in the Phoenix metro area is $225,000. That translates to housing prices taking up 32.2 percent of the average income here.

The compares to 34.9 percent of wages accounting for the price of a three-bedroom rental ($1,467). Wage and housing numbers also show it’s better to buy than rent in Las Vegas, Miami, Chicago, Philadelphia, Baltimore and San Bernardino County, California.

It’s better to rent in Los Angeles, San Diego, San Jose, Seattle, Dallas, Houston, Washington D.C., Queens, Manhattan and Brooklyn, according Attom.

It’s also better buy than rent in the Bronx in New York.



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