It’s cheaper to rent than buy in Denver metro

A new study at “Bankrate” shows that renting is more affordable in the 50 largest metro areas, Denver being one of them.

The typical home nationwide costs nearly 37 percent more to buy than to rent on a monthly basis.

In the Denver-Aurora-Lakewood metro area, typical monthly rent is $2,027, versus a mortgage of $3,627, a 78.9 percent increase.

Four in five Americans still believe that owning a home is part of the American dream. However, with home prices still climbing combined with high interest rates, consumers are finding that renting is the better option.

Read more about the report and the housing market trends here.

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