Affordability has become a casualty for many aspiring first-time homebuyers, as rising interest rates and sales prices have pushed the prospective mortgage payment out of their reach.
Demand for apartments also has boosted rental prices, making it a double whammy. While renting remains more affordable than buying in most of our nation's largest metros, according to Realtor.com, in some markets, buying a starter home is still cheaper than renting an equivalent space.
Realtor.com's June rental report lists the following 10 large markets in order of the largest gap between buying and renting.
5 Stocks Under $49
Presented by Motley Fool Stock Advisor
We hear it over and over from investors, "I wish I had bought Amazon or Netflix when they were first recommended by The Motley Fool. I'd be sitting on a gold mine!" It's true, but we think these 5 other stocks are screaming buys. And you can buy them now for less than $49 a share! Click here to learn how you can grab a copy of "5 Growth Stocks Under $49" for FREE for a limited time only.
Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.