Nationally, in the first quarter of 2014, Zillow found that buying makes sense for people who plan to stay in the same location for at least 2.1 years. However, there’s huge variation among communities. In Connecticut, for example, that length of time ranges from just over a year in Hartford and Bridgeport to more than 31 years in Stonington.
Factors that Zillow considered in making these assessments included:
- the price-to-rent ratio
- expected home value appreciation
- expected rental appreciation
- mortgage rates
- the rate of return on non-housing investments
