10 cities where it’s cheaper to own than rent

In this housing crisis, prices have fallen so much that it’s less expensive for consumers to buy in some cities than to rent.

The Consumerist offers this list of  “Top 10 Cities Where Owning Is Cheaper Than Renting”:

1. Fresno
2. Las Vegas
3. Phoenix
4. Mesa, Arizona
5. El Paso
6. Arlington, Texas
7. San Antonio
8. Minneapolis
9. Jacksonville, Fla.
10. Miami

Based on the data, The Consumerist says if you're in Minneapolis, Miami, or Fresno, you should leave your rental and buy something. In Dallas, San Diego, and New York, however, renters still have the edge – especially in New York, where the average listing price for homes is $1.4 million, while rentals run about $3,500.

Copyright 2010, Rita R. Robison, Consumer Specialist