Money saved through buying real estate in the U.S. 2014

This graph shows the median home price, median rent and percentage saved through buying in the top ten largest cities in the United States as of January 2014. Atlanta proved the best value for buying with 52 percent saved on the price. This was due to the median home price in Atlanta being the lowest at 130,000 U.S. dollars while the median rent was reported as 1,350 U.S. dollars.

Money saved through buying real estate in the ten most populated cities in the United States as of January 2014

city	Percentage saved buying	Median home price (In U.S. dollars)	Median Rent (In U.S. dollars)
Atlanta	52	130,000	1,350
Chicago	47	170,000	1,700
Philadelphia	46	175,000	1,600
Houston	45	200,000	1,800
Dallas	41	190,000	1,650
Miami	38	300,000	2,250
Washington, D.C.	34	330,000	2,100
Boston	30	435,000	2,550
Los Angeles	24	420,000	2,100
New York	22	520,000	2,850

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Release date

March 2014

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Region

United States

Survey time period

December 2013 through January 2014

Special properties

Among ten most populated U.S. cities

Supplementary notes

Note: The researchers at Trulia attempted to increase accuracy in their report through the following methods: they estimated the rents and sale prices for similar real estate in similar neighborhoods rather than using average rental rate or sale price. Further, the researchers calculated the intitial monthly costs of renting and owning, which included rent and price appreciation along with inflation. Also, one time transactional costs were included such as security deposits, sales proceeds and down payments. The metric assumed that buyers purchase a mortgage on a 30-year fixed term at a rate of 4.5 percent and put down 20 percent. Further, it assumes that residents live in their home for at least seven years.
For information on the methodology please click here.

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