9 U.S. Cities Where It’s Cheaper to Own than Rent a Home

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3) Greenville, South Carolina

Greenville took the third spot with its average rental cost of $1,008 versus an average mortgage of $485. The average home price is $175,235 and it takes 1.33 years to break even. The attractive downtown area draws people to Greenville, as do the arts, culture and strong economy. Unfortunately, there is a high crime rate and it can be very humid. The cost of living index is 94.1, meaning it’s below the national average. Housing, utilities, and transportation all fell below the national average, while groceries and health care came out a bit higher with indexes of 102 and 104 respectively. The city has around 220 days of sun a year, but can be quite humid. Clemson University and the Blue Ridge Mountains are nearby. The BMW automotive plant is a big part of the economy.

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