CHARLOTTE, N.C. — Here's a newsflash that might surprise: The U.S. housing market is far more favorable to buyers than it is to renters, at least when it comes to affordability.
The basis for that conclusion? The Business Journals analyzed median home values and rents in roughly 13,500 housing markets throughout the country, using a hypothetical buyer's scenario to determine a monthly mortgage payment for each neighborhood. In 81% of those markets, the cost to purchase was cheaper than it was to rent, based on The Business Journal's calculations. Both the rent and home value data were compiled by Zillow Group Inc. (NASDAQ: Z).
Of 80 neighborhoods across the greater Charlotte region, it's better to buy — rather than rent — in all but 13.
To sort through the list and view the most-expensive neighborhoods to rent in the Charlotte area, click here.
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Cox Media Group
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