Houston, Texas just made the top 20 cities to rent in list. Although it came in in dead last it is still a great accomplishment.†Renting prices are down to 81 percent of the cost of owning. Even though it seems as though thatís a lot this is one of the lower percentages in the United States.
Recent home price declines, continued low interest rates and rising rents mean the cost of owning a home is lower, relative to renting, than the historical average pretty much everywhere. But renting remains cheaper in many U.S. cities, according to a new report from commercial real estate company information company CoStar Group. Here are the top 20 metro areas where it's cheaper to rent, starting with†No. 20 Houston, where renting is 81 percent of the cost of owning, above the historical level of 65 percent and the "tipping point" (where people have tended to move from renting to buying) of 66 percent.
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