Detroit Area Tops in Nation for Most Affordable Home Ownership

Trulia's website, which posted an article entitled: "Buying A Home Is 45% Cheaper than Renting."

The article shows that in the Detroit Metro area, the average cost of ownership per month is $349 per month compared to renting.

The Atlantic writes:

In fact, in every single one of America's 100 largest metros, according to the report, owning is now cheaper than renting. For renting, these numbers include renter's insurance and a security deposit. The numbers for owning include closing costs, maintenance, insurance, and property taxes, and assume the house won't be sold for at least 7 years.