4 ms·
Not untrue in the states either, it's common for the rental price on a house to be 1.5-2x the mortgage payment or more, especially with rates the way they are.
by atwebb 11y ago
Not untrue in the states either, it's common for the rental price on a house to be 1.5-2x the mortgage payment or more, especially with rates the way they are.
I'm not talking about major, top ten city, I'm not familiar with the pricing there. I'm speaking from experience in 2 "B" tier cities.
Rents in our neighborhood are around 2-2.2x our payment of mortage+insurance+taxes, though we put 20% down so the payment is a little lower. In our previous location it was around 1.5x and rents are rising.
- charlesdm 11y agoThat's the premium you get for owning property in a B city. Imagine having a portfolio of 50+ properties in Detroit in this day and age. Imagine owning high value property in a city like Detroit - it'll be hard to sell, hence the premium.
- atwebb 11y agoI guess so, our current city is redhot property wise so anything is expensive relative to what it was, the other city has a very large portion of renters which lends to the increased cost I'm guessing.