Is it better to buy a home or rent? An analysis released today by real estate information provider Zillow.com finds that in most of the U.S., buying becomes a better deal than renting after only three years of residence.
In many metro areas, the advantage comes much sooner.
In Miami, Fort Lauderdale, and Tampa, for example, owning beats renting after 1.6 years, the study finds. Zillow determined the breakeven horizon—the point at which owning becomes more financially advantageous than renting...Full Story