Monday, October 16, 2017

Company Blog

Module Positions

Module Variations

The Best Big Cities for Renters

Written by 
Rate this item
(0 votes)

Timing Is Everything

By Suzanne Woolley - Mar 6, 2013 3:30 PM CT

To many of us, renting a home seems like throwing away money. Shouldn't we buy and let that money build equity, rather than line a landlord's pocket? Turns out that in many major cities it makes perfect financial sense to rent for a few years or more, according to real estate information web site Zillow.  Zillow's "breakeven horizon" metric crunches the costs of owning or renting over 30 years -- tracking them, in the case of a home, from purchase to sale. Where the two sets of costs converge is the point after which buying is smarter. For example, if you're going to live in Nashville in for two years, buying won't give you any financial edge over renting, because the breakeven is 2.6 years. In New York, with home values high, let's just say it takes even longer.

No. 10: Nashville

Breakeven horizon: 2.6 years* 

Zillow Rent Index: 3.8%*

Homes sold at a loss: 24.56%*

On the TV show "Nashville," country music star Rayna James's home is a 6-bedroom, 12-bath, 20,533-square-foot estate. In real life, the house went on the market with a $19.5 million price tag last fall -- a far cry from the Zillow Home Value Index (ZHVI) of $140,000 for Nashville. With that number up 6 percent, Nashville's housing market has held up fairly well compared with that of Memphis, where home values are down 3.5 percent and rental rates are about flat, says Zillow Chief Economist Stan Humphries. The Zillow Rent Index (ZRI) for the city rose 3.8 percent. In Nashville, it takes just over 2.6 years before buying starts making more financial sense than renting.

*ZRI and ZHVI median figures show year-over-year percent change for December 2012. The breakeven analysis was done using data through September 2012. Home loss figures are for December 2012.

Read 1236 times
Super User

Aenean volutpat adipiscing mi. Maecenas a aliquam diam. Curabitur auctor, nulla ut rhoncus semper, mauris eros hendrerit m.

Website: www.7studio.eu

Latest on Blog

  • 1
  • 2
  • 3

The best cities for jobs 2014

15-05-2014 Hits:3273 Nashville Ranking

No. 6: Nashville-Davidson-Murfreesboro-Franklin, TN2013 Number Of Jobs: 823,000Job Growth, 2013: 3.0%Job Growth, 2008-13: 9.7% For Full Article Please Click Here Read more

The South’s Red-Hot Town

15-05-2014 Hits:4265 Nashville Ranking

Nashville and its economy are on fire, sparked by a booming cultural scene,world-class health care, rising universities--and a really good spot on the map It was,... Read more

52 Places to Go in 2014

15-05-2014 Hits:3042 Nashville Ranking

Witness a city in transformation, glimpse exotic animals, explore the past and enjoy that beach before the crowds.   15. Nashville, Tenn.   Leather jackets and skinny jeans join cowboy... Read more

From our Blog

  • 1
  • 2
  • 3
  • 4

The best cities for jobs 2014

No. 6: Nashville-Davidson-Murfreesboro-Franklin, TN2013 Number Of Jobs: 823,000Job Growth, 2013: 3.0%Job Growth, 2008-13: 9.7% For Full Article Please Click Here Read more

15-05-2014 Nashville Ranking

Super User Hits:3273

The South’s Red-Hot Town

Nashville and its economy are on fire, sparked by a booming cultural scene,world-class health care, rising universities--and a really good spot on the map It was, I think, the hum. At Midday recently at Joe Ledbetter's BrickTop's restaurant in Nashville–a busy... Read more

15-05-2014 Nashville Ranking

Super User Hits:4265

52 Places to Go in 2014

Witness a city in transformation, glimpse exotic animals, explore the past and enjoy that beach before the crowds.   15. Nashville, Tenn.   Leather jackets and skinny jeans join cowboy boots.   Country music lovers have long made the pilgrimage to Nashville, but now the city has... Read more

15-05-2014 Nashville Ranking

Super User Hits:3042

Surging Nashville home market sets sales…

Nevin Batiwalla Staff Reporter-Nashville Business Journal For the first time ever, the median sales price for a single-family home in Nashville surpassed $200,000 in June, the Greater Nashville Association of Realtors announced today. The median price for a single-family home sold in Nashville last month... Read more

15-05-2014 Nashville Ranking

Super User Hits:3100

Join Us

Join Cloud Realty

Call Head Coach Phil Dildine, confidentially, on his personal cell phone at 615-476-6738 and set up a time to meet and discuss how "The Cloud" can help you.