According to Zillow Home Loans, a substantial number of cities, including Miami and Tampa, are experiencing a buyer-friendly climate where purchasing a home is increasingly beneficial compared to renting.
With a national average rent of $2,063 and a mortgage payment of $1,827, homeowners can save about $236 monthly, showing a shift back towards homeownership in key markets.
Experts suggest that now may be the opportune moment for hesitant renters in Florida and the Sun Belt to transition to buying property due to lower rates and cooler markets.
Zillow's findings indicate that cities like New Orleans and Miami present considerable savings for buyers, emphasizing the growing advantages of homeownership amid fluctuating housing costs.
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