NEW YORK (AP) A lot of people like to live in the same place for years, but if you’re one of them, you may want to consider renting a property.
A new study from real estate firm National Construction Rentals has found that renting a home is more financially rewarding than buying it.
The study, released Thursday, found that buying a home in New York City was $4,900 more expensive than renting a comparable home in Barnards city.
The average price for a new home is $6,600.
The study looked at properties in Barnars city and New York state, finding that prices in Barnes had higher average rents than the New York city average of $4.50 per square foot, compared with $4 in New Yorkers.
The average rent in NewYork is $2,100 per month, the study found.
It’s also worth noting that New York rents more expensively than New York State, which has a median rent of $1,750 per month.