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A recent report from a real estate information website had revealed that buying a home became more affordable than renting.
In a follow-up report, the website listed Las Vegas as the best example of this data, as homes for sale in the region are much more affordable than renting.
Along with Las Vegas, the website cited Detroit; Mesa, Arizona; Fresno, California; and Arlington, Texas as having better value for buyers than renters.
The site's inital report showed that, in 50 of the largest metro cities in the country, buying was more cost-effective than renting. In historically expensive regions, however, such as New York City, renting was still the better option.
The company used real estate services' list prices of homes for sale and then compared them to the average rent multiplied over a full 12 months. The buying-to-renting ratio for Las Vegas was 6, which placed the region atop the list.
"It wasn't too much of a surprise, especially when we look at the foreclosure rate and the unemployment rate so high," a spokeswoman from the real estate site said. "What's interesting is Las Vegas has been pretty consistently at 6 the last three times we looked at the numbers since January, whereas other places like Miami we saw rise from 6 to 13."
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