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Gap Between Renting and Owning Narrows Most in Several Bay Area Cities


by Jane M. Wolkowicz | MULTIFAMILY EXECUTIVE
Traditionally, you think of the Southeast, the middle of the country, and Texas as being the multifamily markets most exposed to for-sale housing. However, in the past year, the difference in monthly cost between owning and renting has actually narrowed most on the West Coast, which has seen major rent gains. Here are the top 10 such markets.
Sources: John Burns Real Estate Consulting:  RealFacts
The 10 Markets Where Cost Between Owning and Renting
Is Narrowing Most:
Market2010 Cost Difference2011 Cost DifferencePercentage ChangeRent +/-
San Francisco, CA$1169$772-34%15.6%
Orange County, CA$967$743-23%5.8%
San Jose, CA$790$482-39%11%
Seattle, WA$556$302-46%6.6%
Santa Cruz, CA$456$169-63%5%
Santa Rosa, CA$280$120-57%2%
Oakland, CA$245$42-83%9.9%
Santa Barbara, CA$222$12-95%2.8%
Tacoma, WA$121-$29-124%-0.8%
Los Angeles, CA$111-$42-138%3.8%

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