Zillow: In which U.S. markets does it 'pay to rent'?

In March, the California Association of Realtors hosted a panel — “The California Series: State of the State” — revealing that overly strict building codes, an aversion to affordable housing in affluent neighborhoods, and, most of all, exorbitant cost of living is pushing California toward becoming a majority renter state. Zillow’s latest “Breakeven Horizon” study, which shows that half of the eight major markets where it “pays to rent” are in California, backs up this assertion.