The answer is basically everywhere. Jed Kolko reports on the findings of a new study examining the ratio of home prices to annualized rent in 100 of the largest metropolitan areas in the United State.
"It is now cheaper to buy a home than to rent in 98 of the 100 largest U.S. metropolitan areas," according to Trulia's newly released Winter 2012 Rent vs Buy Index, which "tracks whether it is more affordable to rent or to buy a home by looking at asking prices on Trulia.com for rentals and for-sale homes with similar attributes in similar neighborhoods."
The index shows that lowest price-to-rent ratios can be found in Detroit, Oklahoma City, and Dayton, Ohio. Of the 100 metropolitan areas, only Honolulu and San Francisco were found to have ratios outside the "buying is cheaper" range.
"What factors contribute to higher price-to-rent ratios in some metros?" writes Kolko. "Surprise! It's not the effect of the housing bubble. Metros where prices fell more during the bust don't have either lower or higher price-to-rent ratios, on average, than other metros that weathered the bust better...Long-term fundamentals, not short-term changes in prices, determine which metros have high price-to-rent ratios."
FULL STORY: Where to Buy and Where to Rent Now
One U.S. State Boasts 33% Fewer Carbon Emissions Per Capita Than Any Other
California, the largest state by population in the United States, is responsible for 33% fewer carbon emissions per capita than any other state, according to a new study published in the Proceedings of the National Academy of Sciences.
U.S. Cities Where Homeowners Stay Put the Longest
A study identifies cities where people stay in their homes longer, and they tend to be at either end of the income and home values spectrum.
Boomtowns No Longer Attract Waves of New Workers
The latest Upshot by Emily Badger looks at why American cities with the greatest economic opportunity no longer attract the population increases of yore
Study: Maui’s Plan to Convert Vacation Rentals to Long-Term Housing Could Cause Nearly $1 Billion Economic Loss
The plan would reduce visitor accommodation by 25,% resulting in 1,900 jobs lost.
North Texas Transit Leaders Tout Benefits of TOD for Growing Region
At a summit focused on transit-oriented development, policymakers discussed how North Texas’ expanded light rail system can serve as a tool for economic growth.
Why Should We Subsidize Public Transportation?
Many public transit agencies face financial stress due to rising costs, declining fare revenue, and declining subsidies. Transit advocates must provide a strong business case for increasing public transit funding.
How to Make US Trains Faster
Changes to boarding platforms and a switch to electric trains could improve U.S. passenger rail service without the added cost of high-speed rail.
Columbia’s Revitalized ‘Loop’ Is a Hub for Local Entrepreneurs
A focus on small businesses is helping a commercial corridor in Columbia, Missouri thrive.
Invasive Insect Threatens Minnesota’s Ash Forests
The Emerald Ash Borer is a rapidly spreading invasive pest threatening Minnesota’s ash trees, and homeowners are encouraged to plant diverse replacement species, avoid moving ash firewood, and monitor for signs of infestation.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Ascent Environmental
Borough of Carlisle
Institute for Housing and Urban Development Studies (IHS)
City of Grandview
Harvard GSD Executive Education
Toledo-Lucas County Plan Commissions
Salt Lake City
NYU Wagner Graduate School of Public Service