The rent vs. buy decision is getting closer to “buy” in the Portland area, Zillow says.
The rent vs. buy decision is getting closer to “buy” in the Portland area, Zillow says.
The company says that buying has the financial edge over renting after three years in the same home. In August, that “breakeven horizon” was 3.5 years in the Portland area. Within the metro, that period can range from 2.2 to 4.1 years.
The analysis compares the costs of renting with the costs of ownership and gains in equity in the home. It factors in the company’s forecasts for home-value appreciation and rent increases and assumes a 30-year fixed-rate mortgage with a 20 percent down payment.
Read more at OregonLive.com.
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