SOLD! The 12 Best Home Buyers' Markets In America

phoenix

Photo: Wikimedia Commons

We recently showed you the best renters markets across the country. Today we’re following it up with the 12 best metropolitan areas to buy a home. The latest housing report from HotPads shows that rental price for 2-bedroom units jumped 14.4 in spring 2012 from a year ago, compared to a 4 per cent rise in sale prices across 45 major U.S. cities.

We looked at the average rental and sale prices of 2 bedroom units, for 12 metros with the lowest rent-buy ratio. A lower rent ratio would signal a buyer’s market.

Note: All data is for two-bedroom homes in Spring 2012

Phoenix, Arizona

Rent-Buy ratio:
9

Average rent 2012:
$798.67

Average sale 2012:
$81,666.67

Source: HotPads

Sacramento, California

Rent-Buy ratio:
9

Average rent 2012:
$908.33

Average sale 2012:
$101,433.33

Source: HotPads

Houston, Texas

Rent-Buy ratio:
8

Average rent 2012:
$1,059.83

Average sale 2012:
$98,133.33

Source: HotPads

Las Vegas, Nevada

Rent-Buy ratio:
8

Average rent 2012:
$808.33

Average sale 2012:
$72,883.33

Source: HotPads

Riverside, California

Rent-Buy ratio:
8

Average rent 2012:
$1,073.33

Average sale 2012:
$103,833.00

Source: HotPads

San Antonio, Texas

Rent-Buy ratio:
8

Average rent 2012:
$888.00

Average sale 2012:
$89,500.00

Source: HotPads

Tampa, Florida

Rent-Buy ratio:
8

Average rent 2012:
$922.67

Average sale 2012:
$84,333.33

Source: HotPads

Jacksonville, Florida

Rent-Buy ratio:
7

Average rent 2012:
$856.00

Average sale 2012:
$69,766.67

Source: HotPads

Pittsburgh, Pennsylvania

Rent-Buy ratio:
7

Average rent 2012:
$1,046.67

Average sale 2012:
$82,766.67

Source: HotPads

St. Petersburg, Florida

Rent-Buy ratio:
7

Average rent 2012:
$1,021.33

Average sale 2012:
$89,333.33

Source: HotPads

Orlando, Florida

Rent-Buy ratio:
5

Average rent 2012:
$926.33

Average sale 2012:
$60,978.33

Source: HotPads

Detroit, Michigan

Rent-Buy ratio:
1

Average rent 2012:
$600.00

Average sale 2012:
$9,933.33

Source: HotPads

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