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Renting better than buying in the Twin Cites?

That depends on how long you plan to stay. Zillow says the break-even point in the Twin Cities is 2.6 years

May 22, 2013 at 3:26PM
JIM GEHRZ � jgehrz@startribune.com Minneapolis, MN/January 23, 2007/2:00PM As part of the new Gopher stadium package, lawmakers have mandated that the U of M and the city study the impact on adjacent neighborhoods, which include some single family homes that have been converted to multi-unit dwellings that are rented predominantly by students. The for rent sign is posted in front of a home in the 1400 block of SE 7th St. // housing, houses, neighborhoods, rent, rental, apartments // University o
This for rent sign was posted in front of a home in the 1400 block of SE 7th Street in Minneapolis. (Jm - Star Tribune/The Minnesota Star Tribune)

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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