Just Listed brings you the latest news and information from the Twin Cities-area commercial and residential real estate market and beyond from veteran reporters Jim Buchta and Janet Moore.

Renting better than buying in the Twin Cites?

Posted by: Jim Buchta under Buying Updated: May 22, 2013 - 10:26 AM

Among the many, many real estate tid-bits that come my way from Zillow, here's one that's worth a second look:

Zillow said that in Twin Cities metro, buying is a better financial decision if you plan to live in the home for at least 2.6 years. That's a metro-wide average, and the decision varies dramatically from community to community based on housing expenses. For example, the break-even point ranges from a high of 4.6 years in North Oaks to 2 years in Brooklyn Center, with 87 percent of cities only requiring you to live in the home for 3 years or less before buying becomes more financially advantageous than renting.

Here's a  link to the full report, which you can search by metro area, city and zip code.

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