10 Cities Where You Should Definitely Rent A House Rather Than Buy

New York

Photo: Rudy.kleysteuber via Flickr

We already gave you a list of cities where it’s cheaper to buy a home than rent one.But in 12% of major American cities it’s cheaper to rent a home, according to Trulia’s Summer 2011 Rent vs Buy Index¬† which compares the cost of renting and buying a two-bedroom apartment,¬†condominium or townhouse.

Price isn’t the only factor in deciding to buy a home. Potential buyers should also consider how long they plan to live there and if they can afford the monthly down payment. So, if you can’t cough up the money, don’t worry, it’s still cheaper to rent in Boston, Seattle and New York, which all make the cut.

#10 Memphis

Rent price: $600 - $800

List price: $50,000 - $150,000

Note: Trulia rankings were calculated using median listing price, and annualized median rent. All prices are for July 2011

Source: Trulia

#9 Boston

Rent price: $2,050 - $2,550

List price: $450,000 - $550,000

Note: Trulia rankings were calculated using median listing price, and annualized median rent. All prices are for July 2011

Source: Trulia

#8 Los Angeles

Rent price: $1,850 - $2350

List price: $450,000 - $550,000

Note: Trulia rankings were calculated using median listing price, and annualized median rent. All prices are for July 2011

Source: Trulia

#7 Portland

Rent price: $800 - $1,000

List price: $150,000 - $250,000

Note: Trulia rankings were calculated using median listing price, and annualized median rent. All prices are for July 2011

Source: Trulia

#6 Kansas City

Rent price: $800 - $1,000

List price: $150,000 - $200,000

Note: Trulia rankings were calculated using median listing price, and annualized median rent. All prices are for July 2011

Source: Trulia

#5 San Francisco

Rent price: $2,850 - $3,350

List price: $750,000 - $850,000

Note: Trulia rankings were calculated using median listing price, and annualized median rent. All prices are for July 2011

Source: Trulia

#4 Seattle

Rent price: $1,250 - $1,750

List price: $350,000 - $450,000

Note: Trulia rankings were calculated using median listing price, and annualized median rent. All prices are for July 2011

Source: Trulia

#3 Omaha

Rent price: $700 - $900

List price: $150,000 - $200,000

Note: Trulia rankings were calculated using median listing price, and annualized median rent. All prices are for July 2011

Source: Trulia

#2 Fort Worth

Rent price: $700 - $900

List price: $250,000 - $350,000

Note: Trulia rankings were calculated using median listing price, and annualized median rent. All prices are for July 2011

Source: Trulia

#1 New York

Rent price: $3,150 - $3,650

List price: $1.25 million - $1.35 million

Note: Trulia rankings were calculated using median listing price, and annualized median rent. All prices are for July 2011

Source: Trulia

Don't Miss: 10 Cities Where Its Cheaper To Buy A Home Than Rent One >

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