Report Says It is Now Cheaper To Rent Than Buy In San Francisco
Source: sf.curbed.com | Re-Post MNM Partners, LLC 8/1/2018 –
In 2017, the real estate site Trulia crunched numbers and determined that it was still cheaper to buy than to rent in San Francisco, albeit by a very slim margin.
At the time, San Jose had even worse figures: buying was cheaper than renting in the South Bay city too, but the difference was only 3.5 percent. Respectively, the two Bay Area cities had the most anemic returns for buyers nationwide in over seven years.
Trulia followed up with a new 2018 report on the topic released today, and now the tables have turned: In San Francisco and San Jose, home values have soared such that it’s now cheaper to rent than buy, at least for anyone in the enviable position of choosing from a perfectly median lease and a perfectly median mortgage.