DataMarkets & Economy

San Antonio top spot for transition from renting to owning

Zillow cites strong labor market and income growth in San Antonio
  • The Zillow Breakeven Horizon for the nation fell by three months in the first quarter, hitting less than two years.
  • In San Antonio, the breakeven horizon is just 1 year and four months, one of the fastest times across all metros.
  • San Antonio incomes have appreciated 4 percent over the past year, on average.

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Home prices might be rising and outpacing wage growth in some coastal markets, but don’t let that get you down if you're in San Antonio. With high income and employment growth and a short breakeven horizon -- the time it takes for buying to become more affordable than renting -- San Antonio is the "sweet spot" for homeownership, according to a recent Zillow report. The Zillow Breakeven Horizon for the nation fell by three months in the first quarter of 2016, hitting one year and 10 months. Owning is now more affordable in 34 out of 35 of the largest U.S. metros. But for San Antonio, the breakeven horizon is just one year and four months -- one of the fastest times across all metros. Dallas and Indianapolis are two cities with shorter breakeven horizons, but Dallas dropped in income by 5.5 percent and Indianapolis dropped by 0.3 percent, taking them out of the top 10 best cities to buy. Other top cities for buyers according to Zillow include Nashville, Tampa Bay, Ja...