The buy or rent debate in Los Angeles is a closer call than in most major markets. Buyers who stay in their homes three years have a negligible savings advantage over renters, according to Trulia.
A lot has to do with where they live. Home prices vary greatly around the Los Angeles metro area with values on the fashionable Westside -- including pricey Santa Monica, Brentwood and Beverly Hills -- as much as four of five times those of less in-demand, inland areas.
Like all other markets, the payoff for buyers becomes more pronounced with time. After seven years, buyers will save 35% compared with renting, Trulia estimated.
