Should You Rent or Should You Buy? Trulia Maps the Question

Real estate website Trulia has released its most recent Rent vs Buy report, breaking down the value proposition of buying a home relative to renting one for cities around the country.

2 minute read

May 14, 2015, 8:00 AM PDT

By James Brasuell @CasualBrasuell


Ana Swanson shares the findings of a recent study finding that around most of the country, buying will still cost less over the long term than renting. Swanson writes: "If you buy a home with a traditional 20 percent down payment and a 30-year mortgage, on average it will cost about one-third less than renting a similar home around the U.S., according to a new report from Trulia, a real estate site."

According to Swanson's explanation of the study, there are two primary reasons to explain the value of buying compared to renting. "One is cheaper mortgage rates, which have decreased from 4.5 percent in 2014 to 3.87 percent as of April 15. Another is that the growth in home prices over the last year — 3.9 percent — wasn’t much larger than the 3.7 percent gain in rents." According to the report, many of the best places to gain value by buying instead of renting are located in the South, including Sarasota, Florida; Fort Myers, Florida; Baton Rouge, Louisiana; New Orleans; and Miami.

A post on the Trulia website by Ralph McLaughlin approaches the report from the other angle—why renting is the better value in places like Honolulu or New York City. The post provides the details on the findings of the report, but the headline pins culpability for the lack of value in buying on homeowners associations. Well into the article, McLaughlin backs up the point: "When we factor in the median HOA fee, the buying advantage almost disappears in some markets. In the New York metro area, buying a home becomes just 4% cheaper than renting, compared with 27% cheaper without the fee. And in the Honolulu metro, renting actually enjoys a 1% advantage when HOA fees are considered."

An interactive map helps break down the findings of the report to the local level.

Wednesday, May 13, 2015 in The Washington Post - Wonkblog

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Use Code 25for25 at checkout for 25% off an annual plan!

Redlining map of Oakland and Berkeley.

Rethinking Redlining

For decades we have blamed 100-year-old maps for the patterns of spatial racial inequity that persist in American cities today. An esteemed researcher says: we’ve got it all wrong.

May 15, 2025 - Alan Mallach

Logo for Planetizen Federal Action Tracker with black and white image of U.S. Capitol with water ripple overlay.

Planetizen Federal Action Tracker

A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

May 14, 2025 - Diana Ionescu

Front of Walmart store with sign.

Walmart Announces Nationwide EV Charging Network

The company plans to install electric car chargers at most of its stores by 2030.

May 7, 2025 - Inc.

Aerial view of Albuquerque, New Mexico at sunset.

New State Study Suggests Homelessness Far Undercounted in New Mexico

An analysis of hospital visit records provided a more accurate count than the annual point-in-time count used by most agencies.

May 16 - Source NM

Close-up on white bike helmet lying on pavement with blurred red bike on its side in background abd black car visible behind it.

Michigan Bills Would Stiffen Penalties for Deadly Crashes

Proposed state legislation would close a ‘legal gap’ that lets drivers who kill get away with few repercussions.

May 16 - Wood TV 8

Muni bus on red painted bus-only lane in downtown San Francisco, California.

Report: Bus Ridership Back to 86 Percent of Pre-Covid Levels

Transit ridership around the country was up by 85 percent in all modes in 2024.

May 16 - Mass Transit