Jacksonville, Fla.: Buy
Median home price: $83,200
Median annual rent: $10,000
Price-to-rent ratio: 8
The buy-rent equation in this northern Florida city is heavily influenced by mortgage defaults, according to Trulia spokeswoman Tara-Nicholle Nelson. Jacksonville has consistently been among the 30 hardest hit cities for foreclosures over the past two years, as compiled by RealtyTrac.
The flood of repossessed homes hitting the market has caused prices to fall by about 34% over the past four years, according to data from the National Association of Home Builders.
All those dispossessed households have also added to demand for rental properties, pushing the ratio of home prices to yearly rents down into single digits. That makes Jacksonville one of the best places to buy in the United States.
NEXT: Los Angeles: Rent
Last updated January 25 2011: 8:31 AM ET
