Statistical
company SmartAsset released a study that shows 17 metro areas with a population
more than 200,000 where the cost to rent outweighs the cost of buying a home.
company SmartAsset released a study that shows 17 metro areas with a population
more than 200,000 where the cost to rent outweighs the cost of buying a home.
It just so
happens that the Greenville-Anderson-Mauldin South Carolina metro area ranks on
their map as #8 nationally. Their interactive map shows that renting beyond 1 ½
years cost you more than buying a home. As the years stretch out the cost to
rent becomes higher. Here are a few numbers.
happens that the Greenville-Anderson-Mauldin South Carolina metro area ranks on
their map as #8 nationally. Their interactive map shows that renting beyond 1 ½
years cost you more than buying a home. As the years stretch out the cost to
rent becomes higher. Here are a few numbers.
|
Rank
|
Metro
|
Avg. Monthly Mortgage Payment
|
Avg. Monthly Rent
|
Ave. Home Price
|
Breakeven Year
|
Rent Vs. Buy Index
|
|
8
|
Greenville-Anderson-Mauldin,
SC |
$734
|
$1,095
|
$188,816
|
1.7
|
96.5
|
Of course,
you will need to review your own budget to see if buying a home is feasible.
And there will be some instances where renting is just the only option like for
short term stays. But with mortgage rates climbing can you really afford not to
buy?
you will need to review your own budget to see if buying a home is feasible.
And there will be some instances where renting is just the only option like for
short term stays. But with mortgage rates climbing can you really afford not to
buy?
There are
many options for coming up with a down payment or even being able to forgo it
altogether. Contact your preferred lender for a consolation or use one of mine.
I am happy to give a referral.
many options for coming up with a down payment or even being able to forgo it
altogether. Contact your preferred lender for a consolation or use one of mine.
I am happy to give a referral.
And remember
if you, a friend or family member need assistance with selling or buying a home I can help. Referrals
and people needing relocation assistance are welcome! Search Single Family homes in Greenville. Search Condos and Townhomes in Greenville.
if you, a friend or family member need assistance with selling or buying a home I can help. Referrals
and people needing relocation assistance are welcome! Search Single Family homes in Greenville. Search Condos and Townhomes in Greenville.