Trulia Releases New Buy vs Rent Index

Trulia released a new Buy vs Rent Index on June 3, 2010. Los Angeles scored a 17 on the Price-to-Rent ratio when comparing the cost to rent vs the cost to buy a 2 bedroom condo, apartment or townhome. This places Los Angeles on the lower to middle end of the scale, a position that signifies that Los Angeles may be a little bit more expensive to own than to rent but it still might make financial sense to purchase. The average price in this index to rent in Los Angeles was $2,460 and the average purchase price was $491,055. It is important to note that rent and average sale prices were determined exclusively by what is currently listed for rent and sale on Trulia.com.

Download the index from Trulia.com

View the original article and the responses of Trulia users here