Having a hard time deciding whether it is smarter to rent or buy in this economy? Rent seems less costly and more affordable at first, but you may surprised to hear, that in Nashville, that isn’t necessarily the case. CNN Money recently did an article on the best cities to rent a house versus the best cities to buy a house. The article features 12 cities- some favorable to the renter’s market and others favorable to the buyer’s market. I am sure you are wondering where Nashville stands in the mix? Well, Nashville was ranked as one of the best cities to buy! The average list price of home is $202,368 and the average monthly rent is $1,211. The price to rent ratio is 13.93! Because Nashville’s real estate is undervalued, purchasing a home in Nashville is more affordable than renting.
Other Cities:
Miami, FL: Buy
Manhattan, NY: Rent
Detroit, MI: Buy
Seattle, WA: Rent
Jacksonville, FL: Buy
Arlington, TX: Buy
Fort Worth, TX: Buy
Omaha, NE: Rent
Columbus, OH: Buy
Kansas City, MO: Rent
Nashville. TN: Buy
San Diego, CA: Rent
To see more details about these cities list check out CNNmoney.com
Interested in buying? Contact Allen- allen@nashvilleonthemove.com or Andrew- Andrew@nashvillonthemove.com or visit: www.nashvilleonthemove.com