Rent or buy? 10 cities rated

The New York metro area has had a history of high home prices, which has put homeownership beyond the reach of many. A typical apartment in Manhattan sells for more than $800,000 and the median single-family home price in the metro area is more than triple the national number.

With home prices about 34 times rents of comparable homes these days, renting is a better buy. It would take home prices gains much higher than the historical averages to offset the gains renters would garner by investing savings in portfolios that included stocks.

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