Skip to main content

RealtyTrac just published this chart showing the monthly cost of renting versus owning a home across the country.  As of today, rents in Salt Lake County are more expensive than the average mortgage payment by about $30.  As a result of the gigantic student populations at either end of University Parkway, Utah County’s rents are $200 less expensive than in Salt Lake County.  The average mortgage payment is $133 higher that the average rent in Happy Valley.  With an average appreciation rate of 5% on a $229,900 median sales price home, you stand to gain $11,500 is just the first year of home ownership, or roughly 1000% return on your $133 investment into your future.  Don’t be a renter.