file photo by Boyd Loving

Should you buy or rent? A county-by-county list for NJ

By Dino Flammia March 10, 2017 2:57 AM

Should you buy or rent your next home? It’s a major decision for many.

To make that decision a bit easier, real estate database ATTOM Data Solutions has released a report that breaks down the math in New Jersey’s housing markets and determines whether it’s more affordable to rent a three-bedroom home or buy one in each of them.

The report analyzed nearly all of New Jersey’s counties — all but Salem — using 2017 fair market rent data from the U.S. Department of Housing and Urban Development, wage data from the Bureau of Labor Statistics and 2016 public record sales deed data.

Based on monthly payments alone, ATTOM found it’s more affordable to rent than buy in 55 percent of New Jersey’s markets, or 11 counties: Bergen, Essex, Hudson, Monmouth, Union, Morris, Burlington, Somerset, Hunterdon, Warren and Cape May.

Read More: Should you buy or rent? A county-by-county list for NJ | http://nj1015.com/should-you-buy-or-rent-a-county-by-county-list-for-nj/?trackback=tsmclip