Renting vs. Buying in San Diego
Is is more affordable to buy a home or to rent a home? This data provided by C.A.R. shows the data on renting verses purchasing a residential property.
Renting Versus Buying Buying Median Priced Home in 2011
Mortgage Payment vs Rent
Buying Median Priced Home
Renting a 3Bdr/2Ba Apartment
$1,790Taxes & Insurance = $1,810
Out-of-Pocket Cost Savings of Buying
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
Homebuyer Monthly Savings = $220 Homebuyer Annual Savings = $2,640
Homebuyer 5-Year Savings = $13,200
Assumes a 20% downpayment, a 30-yr FRM of 4.62%, and all pmts/costs remain constant
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