A study by Trulia.com shows that, in 100 of the largest metropolitan areas, buying a home is cheaper than renting. Averaging all areas, buying a home is nearly 35 percent cheaper than renting.
In some areas, there is a dramatic difference. In New Orleans, buying is 52 percent cheaper than renting.
The study took into consideration down payment, taxes, insurance, and utilities. It assumed that the buyer would live in the home for seven years.
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