Are you are better off renting than buying home?

Happy Tuesday, Salinas!

🕶️ Sunny all week, well, almost all week. Saturday may put a damper in that, but mostly sunny all week. Highs in the 60s and 70s.

Living near a big city like San Jose has its bonuses, but when it comes to renting vs buying, you may be better off renting.

Take a look at the craziest markets in the USA.

• San Francisco-Oakland-Berkeley, California: The average monthly rent is $3,024, while the typical mortgage payment is $8,539 for a 180.7% spread.
• San Jose-Sunnyvale- Santa Clara, California: Monthly rent is $3,255 on average vs a mortgage payment of $8,539 for a 162.3% gap.
• Seattle-Tacoma-Bellevue, Washington: The average monthly rent is $2,191, or 125% lower than a mortgage payment of $4,930.
• Salt Lake City, Utah: Monthly rent of $1,673 is 89% below a typical mortgage payment of $3,161.
• Austin-Round Rock-Georgetown, Texas: Average monthly rent is $1,753 compared to the average $3,269 mortgage payment for a 86.5% gap.

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This article originally appeared on Salinas Californian: Are you are better off renting than buying home?