The rent vs. buy question is a major one right now, as median rents rise and a drop in mortgage rates turns many renters into first-time buyers. But what about larger, non-starter apartments? The StreetEasy team built a tool to compare listings that are both for sale and for rent, and this week we're focusing on three-bedroom apartments in the Lincoln Square area. The StreetEasy data makes a few assumptions: a 20 percent downpayment and a 30-year fixed-rate mortgage at this week's interest rate of 3.66 percent.
Address: 555 West 59th Street #32B
Sale Price: $3,250,000
Maintenance/Taxes: $2,006/month
Total monthly costs when buying: $13,915
Rental price: $11,500/month
Address: 100 Riverside Boulevard #4F
Sale Price: $1,895,000 (and it's in contract)
Maintenance/Taxes: $1,287
Total monthly costs when buying: $8,231
Rental price: $7,995
Address: 20 West 64th Street #14OP
Sale Price: $3,750,000
Maintenance/Taxes: $1,900/month
Total monthly costs when buying: $15,641
Rental price: $11,500
Address: 155 West 70th Street #6D
Sale Price: $2,495,000
Maintenance/Taxes: $1,414
Total monthly costs when buying: $10,556
Rental price: $12,950
Address: 220 Riverside Boulevard #15N
Sale Price: $3,700,000
Maintenance/Taxes: $1,700
Total monthly costs when buying: $15,257
Rental price: $11,500
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