For San Diego, buying a median priced home with 10% down for a 30yr mortgage means buying a home in San Diego is 10 percent cheaper than renting.
Rental rates have risen faster than home prices in many markets. Buying a home is 36 percent cheaper than renting nationwide and now is the best time to buy since 2012, according to Trulia. Buying is cheaper than renting in every one of the country’s 100 largest metro areas.
The disparity could likely grow as rents are expected to increase by 8 percent next year, according to a Rent.com survey of property managers.