Renting Cheaper Than Purchasing Home, New Report Says

A new report shows renting a home in Oklahoma City is cheaper than owning for first-time buyers.

Realtor.com said the median listing price for a home in Oklahoma City is $278,000, which is around $1,200 for a monthly mortgage.

Those who rent are paying 33% less, with rent in the city being on average $945 a month.

Oklahoma City is in the top 10 for markets that favor renting over buying, according to the report.