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Buying & Selling a Home

Rent or Buy Table

Bubble Zone Markets at a Bottom, and those that may fall more The price-rent ratioÑa cityÕs median home price divided by median annual rentÑis one sign of how stable home prices are likely to be. We have also included the average monthly mortgage payment (based on a 10% down payment and 5.3% interest rate for a 30-year, fixed-rate mortgage) and median apartment rent. Most Stable Metro area Price-rent ratio Monthly mortgage payment Apartment rent Cleveland, Ohio 12 $788 $696 Detroit, Mich. 13 762 757 Tampa, Fla. 14 909 776 Indianapolis, Ind. 14 828 628 Atlanta, Ga. 14 823 756 Inland Empire, Cal.* 15 1,057 996 Las Vegas, Nev. 15 916 795 St. Louis, Mo. 15 891 682 Cincinnati, Ohio 15 892 667 Jacksonville, Fla. 15 1,028 758 Least Stable Metro area Price-rent ratio Monthly mortgage payment Apartment rent Oakland, Cal. 34 $2,934 $1,233 San Jose, Cal. 34 3,428 1,449 San Francisco, Cal. 30 3,736 1,732 Orange County, Cal. 30 3,128 1,444 Seattle, Wash. 29 2,147 926 Salt Lake City, Utah 27 1,296 694 New York, N.Y. 27 7,083 3,327 Portland, Ore. 26 1,627 762 San Diego, Cal. 26 2,263 1,278 Tucson, Ariz. 25 1,122 604 Based on third quarter 2009 data. *Includes RiversideÐSan Bernardino, Cal. Sources: Marcus & Millichap Research Services, Federal Housing Finance Board, National Association of Realtors, Reis Inc.