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Many of our military families are pondering this very question—to buy or rent. With mortgage rates at or nearing record lows, buying a home is more affordable than it has ever been.
And while not all housing markets are created equal, in the recent study by GoBankingRates.com they found Texas was one of the best states for homeowners.
Here’s what Inman.com had to stay about why owning was cheaper in Texas:
“Back in 2014, Texas was seeing growth thanks to booming oil prices, but those dipped about 70 percent at the beginning of 2015 and have not stabilized, thus thwarting major growth and development in the real estate market. However, renting is still more expensive despite tempered employment opportunities. It’s about $1,425 to rent in Texas each month, but a mortgage is $1,271.”
This is great news for military families relocating to Military City USA. With most BAH rates falling between $1,200-$1,600, more military families have an opportunity for homeownership.
Want see if homeownership is in your future? Connect with us and we’ll put you in touch with one of our loan experts.
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