Here are 13 cities where the average rental costs for an apartment are lower than the cost of the average mortgage. Homeownership has its perks. But owning a home is not always affordable. In these cities it is cheaper to rent:
13. Baltimore: monthly rent: $1,325 ~ mortgage:$1,483
12. Sacramento, Ca: monthly rent: $1,342 ~mortgage: $1,517
11. Detroit, MI: monthly rent: $945 ~ mortgage:$1,123
10. Chicago, Il.: monthly rent: $1,180 ~ mortgage:$1,362
9. Raleigh, NC: monthly rent: $1,200 ~ mortgage:$1,383
8. Philadelphia, PA: monthly rent: $1,159 ~ mortgage: $1,367
7. Providence, RI: monthly rent: $1,016 ~ mortgage: $1,242
6. New York City: monthly rent: $1,489 ~ mortgage: $1,738
5. San Francisco: monthly rent: $1,856 ~ mortgage: $2,130
4. Boston: monthly rent: $1,417 ~ mortgage: $1,700
3. Oklahoma City: monthly rent $900 ~ mortgage: $1,200
2. Milwaukee: monthly rent: $925 ~ mortgage: $1,225
1. Louisville, Ky: monthly rent: $866 ~ mortgage: $1,195
Rev. Dr. Donna Taylor is the Pastor of Galilee United Methodist Church on the Northern Neck in Edwardsville, VA. Rev. Dr. Taylor promotes best practices for financial literacy and financial empowerment in the church and leads workshops throughout Northern Virginia. Currently, she serves as the Chair of the Mission Rivers District Finance Committee. In May 2015, Rev. Dr. Taylor received her Doctor of Ministry from Virginia University of Lynchburg in Lynchburg, VA. Rev. Dr. Donna Taylor is married to Dr. David Taylor, who is also the Director of our church-based free clinic. They have two adult children and three grandchildren. In her leisure time, Rev. Dr. Taylor enjoys traveling, jogging, weightlifting, swimming, yoga, and interior decorating. In May 2015, Rev. Dr. Taylor received her Doctor of Ministry from Virginia University of Lynchburg in Lynchburg, Virginia. Rev. Dr. Taylor was born and raised in New York City and recently discovered her ancestral roots in Guinea-Bissau, West Africa. Rev. Dr. Donna Taylor is married to David Taylor and they have a son and a daughter. Their daughter is an airline professional and son is a retired Naval Officer with three children. In her leisure time, she enjoys traveling, reading, swimming, writing poetry, crocheting and spending time with her family.
