According to a recent report that took a look at the 50 largest metropolitan areas, experts identified the best places to buy a home rather than rent one. There are only four of this kind. A second team of experts did a similar analysis and came up with five other US cities where owning is cheaper than renting.
As Danielle Hale, a financial analyst, pointed out, “The housing market is challenging.” One big reason is mortgage rates. For example, according to federal data, the average rate for a 30-year fixed mortgage is currently 6.7%, after years of historically low rates. Rates had stayed below 5% for most of the last decade.
But how much does it cost to buy yourself a house in 2023?
