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11 US housing markets where it makes more sense to buy than rent

Jul 9, 2015, 18:21 IST

Buying a house is a major commitment involving a lot of money.

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But you have to live somewhere, and sometimes it makes more sense to buy than rent.

Realtytrac, a real estate information company, compiled data on 285 counties nationwide and analyzed the economics of buying versus renting a home. They found the average cost to rent or own a 3-bedroom house and determined the percentage an average worker would have to spend from their weekly income.

The report found something surprising. "The separate Buy-or-Rent analysis released today found that making monthly house payments on a 3-bedroom property is more affordable than paying fair market rent on a 3-bedroom property in 188 of the 285 counties analyzed (66 percent)," said the company.

We screened for the counties that had populations of more than 400,000 people and where a homebuyer would save at least 10% more than renters.

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Check them out below in order from least to most savings.

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