A report from Realtor.com found that Richmond is where there is the greatest year-over-year dollar savings in renting vs. owning a home.
There, the cost to buy a starter home was $1,107 (74.2%) higher than the cost to rent one. That is up from the $411 (27.5%) premium the year earlier, meaning occupiers would save an additional $696 than buying when compared to the same time last year.
Los Angeles, Nashville, Phoenix, Memphis, and Raleigh were other top markets seeing higher savings from renting than buying in Feb 2024 when compared to a year ago.
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