function hide_user_promo_bubble_second_stage() { var bubble = $("user_promo_bubble"); bubble.style.display = "none"; } function hide_user_promo_bubble() { var bubble = $("user_promo_bubble"); var myAnim = new YAHOO.util.Anim(bubble, { opacity: { to: 0 } }, 1, YAHOO.util.Easing.easeOut); myAnim.animate(); setTimeout("hide_user_promo_bubble_second_stage()", 1100); } function handle_promo_username(params) { var bubble = $("user_promo_bubble"); var img = $("user_promo_bubble_image"); var anchor = $("user_promo_bubble_link"); if (params.has_photo == "true") { img.src = "http://images.huffingtonpost.com/profiles/" + params.user_id + "-tiny.png"; } else { img.style.display = "none"; Dom.addClass(anchor, "wide"); } anchor.innerHTML = "Shared by " + params.user_name; anchor.href = "http://www.huffingtonpost.com/social/" + params.user_name; bubble.style.display = "block"; var myAnim = new YAHOO.util.Anim(bubble, { opacity: { to: 1 } }, 2, YAHOO.util.Easing.easeOut); myAnim.animate(); } if (HuffPoUtil.getUrlVar("user_promo")) { YAHOO.util.Event.onDOMReady(function() { var parts = document.location.hash.split(","), shared_by = "", badge = "", i; if (parts.length < 2) return; for (i = 0; i < parts.length; i++) { if (parts[i].indexOf("sb=") !== -1) { shared_by = parts[i]; } if (parts[i].indexOf("b=") !== -1) { badge = parts[i]; } } if (shared_by == "" || badge == "") return; var bubble = $("user_promo_bubble"); if (!bubble) return; var entry_id = HuffPoUtil.GetEntryID(); if (!entry_id) return; var user_id = parseInt(shared_by.substr(shared_by.indexOf("sb=") + 3)); if (!user_id) return; var badge_type = badge.substr(badge.indexOf("b=") + 2); if (!badge_type) return; script = document.createElement("script"); script.setAttribute("type", "text/javascript"); bubble.appendChild(script); script.setAttribute("src", "/include/share_track.php?a=view&eid=" + entry_id + "&uid=" + user_id + "&b=" + badge_type + "&cb=handle_promo_username"); }); } 10 U.S. Cities Where It's Cheaper To Buy Than Rent (PHOTOS)

If you're looking for a quick and easy calculation about whether you should finally buy your dream home, you'll likely want to first check out your area's price-to-rent ratio.

(For a list of 10 U.S. cities where it's better to rent than buy click here.)

Trulia, the online real estate data provider, recently took a look at this hand statistic in the 50 largest U.S. cities by population. By comparing the average purchase price of a 2-bedroom home --including mortgage fees and maintenance expenses -- with the average rental price for 2-bedroom apartments, condos, and townhouses, Trulia calculated the price-to-rent ratio to determine whether it is better to rent or buy in a particular city.

Cities with low price-to-rent ratios (under 15) indicate that is cheaper to own a home than rent.

"At the peak of the real estate bubble, cities like Miami, Phoenix and Las Vegas were not affordable for many. Now the opposite is true," said Pete Flint, co-founder and CEO of Trulia. "Home sellers in these hard hit areas are forced to lower their prices to compete with all the foreclosures on the market. As a result, these unattainable markets are so affordable it makes better financial sense to buy than rent."

Check out Trulia's list of cities where it's cheaper to buy a home than rent.

Las Vegas, Nevada

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Price-to-Rent Ratio: 11
Average list price: $128,815
Average rent: $983

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Comments

[jabreal00]

I would never buy in any of those places. I lived in San Antonio for three years. I rented. The median price for homes is low because there are many terrible neighborhoods. The more desirable neighborhoods prices are in the $200K + range. To me, it's still not worth buying because I would never plan on living there longtime and the hassle of selling is just not worth it. Only if one is considering retiring or staying for the long haul. Yuk.

[Sweetcheeks53]

I will be retiring to Summerlin Nevada at least that is my hope for 2020. It's a few miles from LV and about the water problem..yes it is a problem but the nice thing is the water in these communities that surround Las Vegas is supplied by Lake Mead just like the hotels. I'm not much for gambling but I do love a good LV show!

[Ali Rockwood]

most of these cities are going to have serious water issues in the not-too-distant future if the don't already. i wouldn't invest in any of them. fresno, ca is parched already, so are most of texas and all of arizona. florida just seems super weird to me, tho blessed with amazing natural beauty. wasn't that kid whose "friends" set him aflame calling him, "snitch" in florida? are they still having problems with horses being butchered in their fields? and they had that serial cat murderer too! prettttttty, prettttttty weird! o ya, and alligators! 'nuf said.

[dansup]

wouldn't want to live in any of them

[Chise67]

Ditto!

[UNLVGOP]

Las Vegas/Henderson is a great place to live, only have a few downsides: No professional sports, no cultural things like good museums. The public schools out here aren't so good, hit and miss...but that's everywhere.

Otherwise it pretty much has everything...all the stores, great parks, great weather (except August). Something to do 24 hrs. Everything is new, well planned. Very diverse economy, many jobs in many fields. Struggling now, but you can find a job in any skill level out here, and well paying too...valet, dealer, restaurants, healthcare, hospitality, etc

Have thought about moving to get a better job....but just can't imagine finding a place better than Henderson/Las Vegas...

[IwantPEACE4All]

Lot's of illegals in Mesa, AZ. No way would I live there.

[Michael Valentine]

Lots of bigots in Arizona. No way I'd live there.

[pulmonary something]

Lots of Arizonians in Arizona. No way I'd show them my papers.

[GetTheFreakOuttaHere]

Michael Valentine and Pulmonary Something: Great comments!!

[QedRealEstateConsulting]

Is this taking into account what may happen to the value of the home in 2, 3, 5 or 10 years if you have to sell. With the unemployment rates, especially in these 10 cities, stagnant and increasing, is it realistic to think that the real estate values will not also decrease.

http://qedrealestate.wordpress.com/2010/06/07/goodbye-v-shaped-recovery/

[Marianne TB]

come to live here in Michigan..we have WATER, and the rents AND homes are cheap, compared to these places. next up, water wars....and we have the largest fresh water source in the world.
Not many jobs, but if you can afford these other places, you can easily afford to live in Michigan.
why get caught in a drought ridden area with your pants down?

[atexasdem]

Actually we've been vacationing in the UP, It's beautiful and the prices are low. The reason the prices are low though is there is no work there. For a retiree or a person with their own income, except for the winters the UP of Michigan is heaven on earth.

[Marianne TB]

thats wonderful.
alas, tis true,the winters in MI are not pleasant unless one is a raging alcoholic for 5 months out of the year.
but we have water. : )

[VeroucaSalt]

Sounds great. How's the employment situation? And how about diversity?

[SoCalNick]

Honey it SNOWS A TON in Mich. YOU gonna Shovel it???

[Marianne TB]

lotta diversity where I am. depends on where you are.

[Fuel]

This will happen more and more because when less people can afford to buy a house or are unable to get a loan the demand for rentals will grow. when that happens they will be getting gouged yet again by a landlord that payed more than the property is worth or in most cases is just greedy.I think we will be seeing much more of this.

[Troubledwawa]

I can wait. The bottom is no where in sight.

[topachic25]

Thank you, but NO. I will keep my sky high San Francisco rent prices, and you can have your houses in these cities!

[manray05]

None of thes cities impress me. Especially Fresno and Jacksonville. Why would I leave the Bay Area and move to these Godforsaken places, for a cheap house? What happens when I walk out my door and hate it?

[Deli]

I feel the same about San Diego.

[topachic25]

I can't agree more! I laughed pretty hard when I saw Fresno.

[sulalives]

ARLINGTON TEXAS IS WHAT...DID SOMEONE LIE TO YOU MY DEAR...PROPERTY TAXES ARE RISING AS I SIT TYPING

[amdezurik]

notice that 7 out of 10 of the locations are drought prone?

[Longbaugh]

I don't buy the Fresno bit.

[SickHippie]

Then rent!

[Hareega]

If you can tolerate the col, Minneapolis is a very nice place to live

[TheyAllSuck]

It makes no sense. How can rent in Minneapolis be higher than most economically prosperous cities, and yet have so cheap property to sell?

[Jeanette Hill]

I love living in Mpls! I just bought my house in North Minneapolis last year for $65,000 and the city gave me $14,000 to buy the foreclosed property. Its way cheaper than my $750 one bedroom apartment since now I have 3 bedroom 1 bathroom 1500sq ft house! Would do it again in a heartbeat!

[jamuelle]

We live here and I have no idea why, but it is. The only two factors I can think of are that there are a lot of new mixed use properties being built, business/service on the first levels, apartments and condo's on the upper levels. Those being new and full of services, cost more. And the foreclosures here in Mpls have been quite high. You can purchase a home for very cheap, but they usually require a lot of work. (I work for a subcontractor, most work is not new homes, but gutting on vacant buildings currently).
There was also a huge "bubble" if you will in this area about 10 years ago. The houses were quite inflated. There was a bit of a correction a few years back, but when the economy tanked and the mortgage crisis hit, it is all blown away. With people's credit being so bad, people need to rent, because they can't get a loan, I guess they can command higher rent. Minneapolis is a nice city. IF you don't mind winter/cold. The other thing is, people seem to not want to commit to living in one place. We chose a house carefully, purchased and have been here 15 years. We added on instead of moving. Great location, nice neighborhood, why move?