Trulia.com just released a great interactive website tooi for home buyers to figure out whether it makes sense to buy a home instead of renting. Trulia's Q1 2011 Rent vs. Buy Index provides guidance to help you make a smart decision on whether it is better to rent or buy in each of America's 50 largest cities by population. The 'Rent:Buy Ratio' is calculated by using the median list price compared with the median rent on two-bedroom apartments, condos and townhomes listed on Trulia.com. Buyers can click market specific tabs on the interactive map to see the differences between renting for a year and buying a similar property.
Denver runs in the middle of the pack. The site states although renting might be slightly less expensive in Denver, it makes sense long-term to buy a home instead.
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