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Buying vs. Renting in Broward County

Kelly and John Foley in thier Delray, FL home
Kelly and John Foley in thier Delray, FL home
 [Photo by Josh Richie,
Sun Sentinel]

Paul Owers/Sun Sentinel
May 6, 2014

As the country’s rental market skyrockets, especially here in South Florida, a new study by Zillow finds that buying a house can be more financially savvy right now.  Data for Broward County shows that in only 1.1 years buying the home is a better value than renting it, buying in Palm Beach shows better value in 1.3 years.  “The ‘break-even’ point is less than a year in some communities, including Lake Worth (six months), Greenacres (seven) and Lake Park (nine). Lauderhill (six), Tamarac (seven) and Coconut Creek (nine).  Among the 35 largest metro areas nationwide tracked by Zillow, the tri-county South Florida region had the fourth-shortest break-even point at 1.2 years, after Riverside, Calif. (less than a year), Orlando (one year) and Tampa (1.1 years).”   More…  


 

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