Las Vegas: Buy
Median home price: $65,100
Median annual rent: $10,200
Price-to-rent ratio: 6
The buy-rent ratio very much in favor of buy in Sin City. "Buying is a much better play," said local real estate investor, Glenn Plantone.
In fact, Plantone is dead certain that home prices in the area have hit bottom.
Already, prices for practically new homes are below the cost of building new ones and development has come to a screeching halt. Eventually, the inventory overhang of homes for sale will be sucked up and that will lead to modest home price recovery.
That means buyers will save money every month they don't rent and their purchases will prove to be sound investments as well.
NEXT: Manhattan: Rent
Last updated January 25 2011: 8:31 AM ET
