Report shows renting costs more than owning in Chicago - New York News

Report shows renting costs more than owning in Chicago

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CHICAGO (FOX 32 News) -

What's better, renting or owning property in Chicago? A report by Deutsche Bank reveals some interesting details for city residents.

The report found the cost of renting was about 31 percent higher than the average monthly mortgage payment, in the third quarter.

Seven cities have a higher rent-to-buy ratio in that quarter, including Cleveland and Atlanta.

Deutsche Bank also said home prices in Chicago will fall another 2.9 percent by June.

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