Cheaper to buy than rent in Midwest?
Hello Everyone,
I am wondering why anyone planning to live in the Midwest would ever rent rather than just purchasing. I noticed that some of the more affordable houses there have mortgages ranging from $150-$400 (Indianapolis specifically in this case) but tenants would be renting for $600/month or more!
It is significantly cheaper to purchase even when including property tax and other expenses, why would anyone rent?
Best,
Kenneth