rent buy dallas
  • % saved buying: 41%
  • Median home price : $190,000
  • Median rent: $1,650

Big Oil and other energy industry players have kept Dallas' economy humming.

With ample land to build on and a steady supply of buyers, prices tend to remain stable here. Even through the worst of the housing crisis, home prices in Dallas fell by just 11% -- a fraction of the losses seen in most other major cities. And Dallas has more than recovered since.

In December, home prices here were higher than ever, according to the S&P/Case-Shiller home price index. Yet, they are still cheap enough to make buying a better deal than renting, especially given the fact that prices are expected to continue to appreciate at a steady pace.

First published March 3, 2014: 12:09 PM ET
Source: Trulia
In order to get a more accurate comparison, Trulia estimated sale prices and rents for similar homes in similar neighborhoods, instead of using the average sale price or rental rate. It further calculated the initial total monthly costs of owning and renting, including maintenance, insurance and taxes, as well as future costs of owning and renting, such as price and rent appreciation and inflation. Trulia also included one-time transactional costs, including down payments, sales proceeds and security deposits. It assumes that buyers get a 30-year fixed mortgage with a 4.5% rate and put 20% down and that residents stay in their home for at least seven years.

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