Homebuyers in Boston break even on their homes sooner than expected
It takes just over three years for homebuying to make more financial sense than renting in Boston’s housing market, according to a recent analysis from Zillow.
The “Breakeven Horizon,” as Zillow calls the measurement, looks at how long it takes before owning a home is more financially advantageous than renting, assuming the homebuyer secures a 30-year mortgage at today’s historically low interest rates.
At 3.1 years, Boston’s break-even point was not only higher than the national average of 1.9 years, but also high-priced San Francisco, and was tied with New York.
Here is a chart that better demonstrates how Boston compares with the rest of the nation’s large metro areas:
| Metro Area | Q4 2015 Breakeven Point (Years) | Median Rent |
| U.S. Average | 1.9 | $1,381 |
| Atlanta | 1.4 | $1,274 |
| Boston | 3.1 | $2,247 |
| Chicago | 2.1 | $1,633 |
| Houston | 1.5 | $1,579 |
| Los Angeles | 4.1 | $2,491 |
| Miami | 2.5 | $1,822 |
| New York | 3.1 | $2,384 |
| Philadelphia | 2.8 | $1,558 |
| Phoenix | 2.3 | $1,249 |
| San Francisco | 2.9 | $3,338 |
| Seattle | 1.9 | $1,931 |