Rent VS Buy in 2019? High Rent Plus Few Houses Creates Dilemma
By Teri Eckholm, REALTOR Serving Mpls/St Paul North & East Metro
Living in Minnesota is not as affordable as it once was. Home prices are continually increasing in the Minneapolis/St Paul metro. And to make things more stressful, rent costs in the Twin Cities are among the highest in the nation. Monthly rent costs for one and two bedroom units are nearly $1500 and $2000 respectively. Check out this June 2019 report on rent prices nationwide. This leads many renters to ask, “Should I Buy instead of Rent?” It is a continuing dilemma facing many would be first time homebuyers. It also creates a lot of discussion and sometimes debate. So why is “Rent vs Buy?” such a tough question to answer? There are many variables in a home purchase investment. The biggest is location which can often determine the price of a home. We used to be blessed in the Min...