Rent as % of after tax mortgage payment: 132.6%
Median home price change, 2006-2010: -14.8%
The housing market in Ohio has been in a ditch for a couple of years, but it may now be showing signs of life. The Plain-Dealer reported that home sales increased from January to February by 3.7% and that low prices and interest rates could spur many people sitting on the sidelines to buy.
And it's certainly getting even more affordable to buy: In Cleveland and other Northeast Ohio counties, the average price for a single-family home was down 0.2% year-over-year, while the average for a condo was down 15.3%. It now costs about 24% less to buy in Cleveland than it does to rent.
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Last updated March 29 2011: 9:31 AM ET