BATESVILLE, Ind. — A new study published by SmartAsset ranks Franklin and Ripley Counties in the top 10 in the state to purchase a house over renting.
To find the strongest buyer’s market, they gathered data on average rents and home prices and compared buying to renting.
The study then finds the shortest breakeven point in which the total cost of renting becomes greater than the total cost of buying.
Franklin County ranks number two in the state with an average monthly mortgage payment of $584 and an average monthly rent payment of $971.
Ripley came in fourth with an average monthly mortgage of $514 versus an average rent payment of $964.
