Rent or buy In the Portland area?

Rent or buy In Portland area?

Rising rents are shrinking the amount of time it takes for Portland-area homeowners to realize a financial advantage over renting.

According to an analysis by real estate website Zillow, Portland-area buyers who stay in their home for 2.2 years will be better off than if they had rented a similar home. This time a year ago, Zillow said the “breakeven horizon” for a home purchase was 3 years.

The analysis weighs the costs of buying a home — including the higher up-front transactional costs — against monthly rents, deposits and other costs of renting. It also takes into account estimates of future home-value appreciation and rent growth. Read More – Oregonlive.com>

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