Buying May Not Beat Renting Until Retirement In Some Expensive Markets: Zillow

Buying May Not Beat Renting Until Retirement in Some Expensive Markets: Zillow

For a typical U.S. household, it can take decades to save for a home and reach the point where buying becomes cheaper than renting, with the timeline stretching into retirement in some expensive markets, according to an Aug. 20 Zillow report. Zillow calculated the number of years that a household saving 10 percent of the area’s median income would need to save for a 20 percent down payment on either a typical single-family or starter home. The b…