Trulia has posted a nice Rent vs. Buy graphic for major metropolitan areas around the country. Of course, in New York City it is cheaper to rent than it is to buy while in Phoenix it is just the reverse. Just for kicks, I checked on Honolulu, HI. I would have thought that it would have been overpriced, but by Trulia’s calculations, it is not. Of course, this misses entire states since they are focusing on only 100 cities in the major markets. I am curious as to why they placed Memphis up around St. Louis, MO. Then again, Boston and New York City are located somewhere in the Atlantic Ocean.
Trulia’s Q1 2011 Rent vs. Buy Index provides guidance to help you make a smart decision on whether it is better to rent or buy in each of America’s 50 largest cities by population. The Rent:Buy Ratio is calculated by using the median list price compared with the median rent on two-bedroom apartments, condos and townhomes listed on Trulia.com.
via : Trulia Rent vs. Buy
