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