A new study ranked Worcester County second in the state in terms of owning a home, highlighting the affordability of owning versus renting in the area.
The annual study from SmartAsset compares average rent and home prices in counties across the U.S. to find the places where buying makes the most sense. Worcester was ranked second behind Bristol County, thanks to the relatively low price of the average monthly mortgage payment at $808, compared to the average monthly rent of $1,347. The study also found that it took just over three years to reach breakeven on a home purchase in the county.
This compares favorably both with Middlesex County, which was eighth on the list. It takes 4.2 years to reach a breakeven point on a home purchase there, and the average mortgage is $1,405, the study found.
