According to a recent article in the Seattle PI, Seattle is the second worst city to buy a home in compared to renting.
The article compared the median cost of a 2-bedroom condominium or townhouse with the median rental rate of a 2-bedroom apartment. In Seattle the cost of owning a condo or townhouse was 24 times the median annual rent.
The great disparity between renting and buying in Seattle is a reflection of the strength of the local job market compared to other cities across the country.
Seattle defies the national trend with such a harsh difference between renting and owning right now, as 72% of the largest 50 cities in America offer a greater bargain in buying over renting.