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Sending a student off to college comes with plenty of big decisions, including one that families may not expect: Is it better to pay rent for four years, or buy a home near campus? On a monthly basis, renting is usually the less expensive option. But the monthly payment is only part of the equation.
Housing and child-rearing costs are driving the increase, while a record number of renters spend more than 30% of their income just to keep a roof overhead.
Home prices are falling faster than rents in these seven metros, narrowing the gap between renting and buying a home.