3. Philadelphia

Philadelphia also makes the list of the best places to buy a home in the US. According to the latest data, owning a house in Philly costs 7% less, on average, than renting one. Monthly rents average approximately $2,000 here, while monthly mortgage costs average $1,869.

4. Cleveland

Next on the best places to buy a home, we have Cleveland. Owning a house here is 4% cheaper than renting one, per the latest data. The median rent is $1,800, while the median mortgage cost is $1,730.

5. Birmingham, Ala.

Alabama’s largest metropolitan core remains affordable for those looking to buy a house here, even in a tough market. Monthly costs for a starter home don’t go beyond $900, while rental costs average about $1,150 per month.