- YTD 2011 the average Princeton rental closed for 93% of the asking price set by the Landlord.
- YTD 2012 the average Princeton rental closed for 97% of the asking price set by the Landlord.
- Three of the office rental listings were in a bidding war in the last week (one had a price tag of $6000 and had four offers!)
- The average rental YTD in Princeton is $3738 per month. That more than a $500,000 loan payment!
- At $3738 in rent per month that is over $224,000 in payments over five years. (p.s. You are not building equity).
- Assuming an equal $1500 per month payment, 3.25 for inflation, and a fixed rate mortgage the costs of home ownership for a
Owner $540,000
Tenant $900,000
Moral of the story: Renting is fine. Owning is better.
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