High price-to-rent ratio + weak momentum = the math points to renting in these markets.
Markets where home prices are very high relative to rent AND momentum is weak or cooling. The classic 'renter's market'.
Math: P/R > 22 AND momentum < 55. These are pure appreciation markets that have stopped appreciating — historically the worst combination for buyers.
3Lafayette, CASan Francisco-Oakland-Berkeley · pop 25,37149Stable46.0P/R ratio 4Pleasanton, CASan Francisco-Oakland-Berkeley · pop 75,66440Cooling43.7P/R ratio 5San Ramon, CASan Francisco-Oakland-Berkeley · pop 85,92447Cooling43.5P/R ratio 6Sammamish, WASeattle-Tacoma-Bellevue · pop 66,47449Stable41.4P/R ratio 7Fremont, CASan Francisco-Oakland-Berkeley · pop 228,19253Stable40.8P/R ratio 8Foster City, CASan Francisco-Oakland-Berkeley · pop 32,65754Stable40.6P/R ratio 9San Mateo, CASan Francisco-Oakland-Berkeley · pop 103,00654Stable39.6P/R ratio 10Santa Monica, CALos Angeles-Long Beach-Anaheim · pop 90,72945Cooling39.6P/R ratio 11Union City, CASan Francisco-Oakland-Berkeley · pop 66,19646Cooling38.8P/R ratio 12Lone Tree, CODenver-Aurora-Lakewood · pop 14,06147Cooling38.6P/R ratio 13Berkeley, CASan Francisco-Oakland-Berkeley · pop 121,74941Cooling38.6P/R ratio 14San Anselmo, CASan Francisco-Oakland-Berkeley · pop 12,64551Stable38.2P/R ratio 16Moraga, CASan Francisco-Oakland-Berkeley · pop 16,69848Stable37.3P/R ratio 17Danville, CASan Francisco-Oakland-Berkeley · pop 43,41047Cooling37.2P/R ratio 18San Rafael, CASan Francisco-Oakland-Berkeley · pop 59,96151Stable37.0P/R ratio 19Burbank, CALos Angeles-Long Beach-Anaheim · pop 103,53350Stable36.0P/R ratio 20El Cerrito, CASan Francisco-Oakland-Berkeley · pop 26,40941Cooling36.0P/R ratio 24Dublin, CASan Francisco-Oakland-Berkeley · pop 70,54439Cooling34.9P/R ratio 25Issaquah, WASeattle-Tacoma-Bellevue · pop 39,66453Stable34.6P/R ratio 26Sausalito, CASan Francisco-Oakland-Berkeley · pop 7,07539Cooling34.4P/R ratio 27Daly City, CASan Francisco-Oakland-Berkeley · pop 101,41848Stable34.2P/R ratio 28Albany, CASan Francisco-Oakland-Berkeley · pop 19,43944Cooling33.7P/R ratio 29Alameda, CASan Francisco-Oakland-Berkeley · pop 78,79544Cooling33.6P/R ratio 30Boulder, COBoulder · pop 106,80347Cooling33.0P/R ratio 31Seattle, WASeattle-Tacoma-Bellevue · pop 780,99551Stable33.0P/R ratio 33Carlsbad, CASan Diego-Chula Vista-Carlsbad · pop 113,57551Stable32.5P/R ratio 34Culver City, CALos Angeles-Long Beach-Anaheim · pop 39,88354Stable32.5P/R ratio 35Livermore, CASan Francisco-Oakland-Berkeley · pop 84,86742Cooling31.9P/R ratio 36Orinda, CASan Francisco-Oakland-Berkeley · pop 19,57348Stable31.5P/R ratio 37Fairview, TXDallas-Fort Worth-Arlington · pop 10,92250Stable31.4P/R ratio 39Tualatin, ORPortland-Vancouver-Hillsboro · pop 28,03648Stable30.4P/R ratio 40Walnut Creek, CASan Francisco-Oakland-Berkeley · pop 70,81752Stable30.3P/R ratio 42El Cajon, CASan Diego-Chula Vista-Carlsbad · pop 103,29153Stable29.8P/R ratio 43Newark, CASan Francisco-Oakland-Berkeley · pop 46,25445Cooling29.8P/R ratio 44Renton, WASeattle-Tacoma-Bellevue · pop 105,54354Stable29.8P/R ratio 45Burien, WASeattle-Tacoma-Bellevue · pop 52,04654Stable29.7P/R ratio 46Pacifica, CASan Francisco-Oakland-Berkeley · pop 37,05646Cooling29.6P/R ratio 48Los Angeles, CALos Angeles-Long Beach-Anaheim · pop 3,878,70453Stable28.9P/R ratio 49Healdsburg, CASanta Rosa-Petaluma · pop 11,23145Cooling28.8P/R ratio 50Davis, CASacramento-Roseville-Folsom · pop 67,12550Stable28.4P/R ratio