Miami has entered the list of US cities where the number of real estate purchases prevails over rent

Miami has entered the list of US cities where the number of real estate purchases prevails over rent

Miami was included in the list of the largest cities in the United States, where it is more profitable to buy real estate than to rent. The city ranked 6th out of the 50 most populous in the United States in terms of housing prices and rents.

During the analysis, experts compared the cost of buying a house with the rental price. An indicator of less than 15 with a ratio indicates that it is better to buy a house, 21 or higher - that it is better to rent. The ratio between 15 and 21 suggests that the decision to buy/rent may depend on individual parameters and circumstances.

Miami has a ratio of 13, along with Memphis. With a coefficient of 12, Pittsburgh, New Orleans, Chicago and Cleveland are among the four cities with the largest number of home purchases. TOP-3 best rental cities include San Jose, California, San Francisco and Seattle.

Renting real estate in Miami costs an average of $2,767 per month, and the average monthly mortgage payment at a rate of 6.8% is $2,913.

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