Housing market: Is it better to rent or buy? The answer depends

However, The Wall Street Journal on Thursday published an analysis seeking to help buyers and renters answer that question. Before the onset of the COVID-19 — when many Americans reevaluated their lives and relocated, especially to burgeoning areas like the West where they could buy larger homes at smaller price points — a typical Austin homebuyer would break even after 3.7 years in a new home, according to The Wall Street Journal’s analysis. Contrast that with an area like Miami, which the Journal deemed an “outlier market where asking rents have risen faster than home prices.” There, it will take less time to break even in a home investment, down from 2.5 years before the pandemic to now 2.3 years.

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