As rent prices soar and housing prices decline, it’s beginning to look a lot like a homebuyer’s market. Trulia’s latest study finds renting to be a better deal than buying in 98 of the 100 top metro areas.
So where are the best cities to put down roots? Not Manhattan, and definitely not San Francisco or Honolulu, says Trulia. In fact, the cities where buying makes sense are the ones homeowners are likely to flee: Detroit, Oklahoma City, and Toledo and Dayton, Ohio—all Rust Belt metros slammed by the housing crisis.
The chart below shows metros (marked as dots) where it’s cheaper to buy than rent a home (red). Mustard yellow indicates that the asking price isn’t all that different from buying, and orange means to strongly consider renting.
See where your city stacks up, and check out Trulia’s interactive graphic here:
Ready to move? Click here to see 10 signs that your ‘hood’s on the skids >
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