For everyone who’s been stuck between home renting and home purchase, the verdict is in! Zillow, Inc. has just released a new analysis showing that, in most U.S. states, buying a home makes more financial sense than renting, as long as you intend to live in the home for at least 3 years.
7,500 US cities and 224 metropolitan areas were evaluated by Zillow to establish how long it would take before home purchase was more profitable than renting. In the metropolitan areas evaluated, more than 75 percent of home buyers would break even after owning a home for three years or less. This revelation will surely push more people into buying. In only 7 percent of the metropolitan areas, it would take more than 5 years to reach the break-even point.