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Homeownership Beats Renting

Homeownership Beats Renting, Homeownership Beats Renting, Life's A Beach Real Estate

Homeownership Beats Renting

LOS ANGELES – July 27, 2017 – Arizona, Nevada and Washington, D.C. are among the 11 states where it’s more affordable to rent than it is to buy a home. But owning a home still beats renting in Florida, according to a study by website GOBankingRates.

GoBankingRates surveyed all 50 states and the District of Columbia, and identified which states are best for buying a home and which are better suited for renting. The study, based on rental data on Zillow, was sourced to June 28, 2017. For the cost of owning, the study assumed a 20-percent downpayment on a 30-year fixed loan.

In Florida, homeowners have the advantage. They GOBankingRates study found that the average monthly rent of $1,543 is $167 higher than the cost of an average monthly mortgage of $1,376. The difference amounts to about $2,000 per year that the average Florida family would save by owning rather than renting, though actual savings would differ by metro area and other variables.

The 11 states where renting a home is less expensive than buying one include Arizona, Colorado, Washington, D.C., Hawaii, Idaho, Montana, Nevada, North Carolina, Oregon, Utah and Wyoming.

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Life’s A Beach Real Estate is a full service Real Estate Company on the beautiful Emerald Coast.  Our headquarters is located in one of the most unique condominium buildings on the beach, The Origin Beach Resort. We have over 700 condos for sale on Panama City Beach as well as beachfront and vacation homes in the world famous 30A area.  A large part of our business is Condo sales but we also assist our clients with new homes, investment opportunities, commercial properties, new construction and development.