Trulia renames the GRM to “Rent vs. Buy” Index and graphs it in major cities…?
February 1, 2011 in Uncategorized
This just out from Trulia… What is the big difference in “Rent vs. Buy” Index and the GRM (Gross Rent Multiplier). Looks like Trulia just attempted to apply the GRM to residential properties and drew a map (would be nice if they used real comps instead of median list price). Also GRM’s have always been high in New York, Seattle, Kansas City, and San Francisco (and for a reason).Trulia’s Q1 2011 Rent vs. Buy Index provides guidance to help you make a smart decision on whether it is better to rent or buy in each of America’s 50 largest cities by population. The Rent:Buy Ratio is calculated by using the median list price compared with the median rent on two-bedroom apartments, condos and townhomes listed onTrulia.com. Click here for the full methodology.
Click on the tabs above the interactive map to see the differences between renting for a year and buying a similar property. To check out current rental listings and homes for sale, go to Trulia.com.
Scale
Click on the tabs above the interactive bar graph to see how unemployment rates, foreclosure filing activities and job growth projections affect renting and buying across the U.S. The height of each bar corresponds to population. Cities are ordered by their Rent:Buy Ratio.
