It’s a question most people eventually come to face: Should I rent or buy a home? However, the data that was previously used to answer the question didn’t consider the specifics of the situation facing Millennials. This new study from Trulia takes into account the real variables for young homebuyers, and as it turns out, buying a home is still the better option.
Even with their unique financial and living situations, it is still better for Millennials to buy a home rather than rent in most cities.
This latest edition of Rent vs. Buy considers these Millennial factors. Trulia also assumed a 3.85% mortgage rate on a 30-year fixed-rate loan, itemized federal tax deductions and a 25% tax bracket