Fortune has done it again. They've created the top 10 places to buy real estate in the United States - a great read for anyone who is thinking of moving or investing in real estate elsewhere. Just know that you might be surprised by what they found.
It's important to note that part of the calculation is based on comparing local rental prices versus mortgage costs, along with how much the median home price has fallen. Other measurements include the share of income that Americans are paying to own a home.
Top 5 Places to Buy Real Estate in the US
- Atlanta, Georgia: With a rental price as percentage of mortgage equaling 151.2%, Atlanta is a great place to buy a home. For more information on Atlanta, check out the About Guide to Atlanta.
- Orlando, Florida:Orlando's rental price as percentage of mortgage is 137.2% and according to local papers as reported by Fortune, tourists have started to return to the city of Mickey Mouse. Good incentive to invest in real estate. For more information, check out .
- Rochester, New York: Rochester comes in at number three with rent as a percentage of after tax mortgage payment equaling 136.0%.
- Cleveland, Ohio:Home sales are up in Cleveland, yet the median house price dropped by 14.8% over the past four years. Check out what Cleveland has to offer with About's Guide to Cleveland.
- St.Petersburg, Florida: St.Petersburg had experienced a large drop in median home prices over the past four years, with a 41.4% change. And with Florida still offering retirees a great place to be, resale values may well be worth taking a look at this vibrant city.
