A study released last week by Trulia comparing the costs associated with buying or renting comparable homes in the top 100 U.S. metropolitan areas found that it is less expensive to buy than rent in the Portland, Oregon area.
Portland was rated with an 11.0 Rent vs. Buy Index.
Price-to-rent ratios that are 15 and under indicate buying is less expensive than renting, while ratios that are 20 or higher indicate renting is less expensive than buying. Between 15 and 20, the rent-versus-buy calculation depends on tax deductions and other personal circumstances.
We would be happy to speak with you about your housing goals and what whether buying or renting makes the most sense for you. Call The McCreith Team at 503-310-9844.
PDF: Read Trulia’s Rent vs. Buy City Rankings