Last month we invited home shoppers to check out some beautiful homes for sale and homes for rent in Honolulu, HI to see how much bang for the buck shoppers could get either renting or buying. We used Zillow’s “search by monthly payment” tool to compare what types of homes a similarly priced mortgage or rent check would get home shoppers.
Of course, making the decision between renting or buying is about a lot more than monthly payments. The transactional costs of purchasing a home, how long you plan to live in the home, and home and real estate appreciation and depreciation are just a couple of factors that prospective renters or buyers should consider.
Today, we present you with a similar comparison, but in a very different kind of city on the opposite side of the country from Honolulu. Less sandy beaches, more urban living. Check out the homes for sale and homes for rent in Philadelphia, PA.
Compare Rent vs. Buy Monthly Payment Under $1,500:
Compare Rent vs. Buy Monthly Payment Under $2,000:
Compare Rent vs. Buy Monthly Payment Under $2,500: