After seven years of homeownership, owning a home proves 53.2% cheaper than renting in Miami and West Palm Beach, according to Trulia.
| Rank | Metro area | Median home price | Median rent | Cost to buy vs. rent |
|---|---|---|---|---|
| 1 | Miami, FL | $259,527 | $2,000 | -53.2% |
| 2 | West Palm Beach, FL | $241,509 | $1,950 | -53.2% |
| 3 | Houston, TX | $176,513 | $1,575 | -52.9% |
| 4 | Fort Lauderdale, FL | $217,342 | $1,800 | -52.9% |
| 5 | Charleston, SC | $218,090 | $1,575 | -52.5% |
| 6 | Baton Rouge, LA | $158,405 | $1,350 | -51.7% |
| 7 | New Orleans, LA | $171,302 | $1,450 | -51.2% |
| 8 | Syracuse, NY | $122,040 | $1,400 | -51.0% |
| 9 | Philadelphia, PA | $141,176 | $1,300 | -50.8% |
| 10 | Columbia, SC | $124,733 | $1,125 | -50.6% |
Source: Trulia
How come they didn't put depreciation in their calculations?
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