Here's the best tool I have found for analyzing the costs of renting versus owning. Thank you to the New York Times for providing it! And to my daughter, Samantha, and her friend, Shannon, for finding it for me to provide to you. :)
Be sure to use the advanced features to adjust for our local market: I figure appreciation at 2 - 3% per year (I hope!) I figure taxes at 2% of market value and insurance at about $800 per $100,000.
Click here to do the math.
Please call me with questions! Helen Crow (785) 272-5555 X.110