Rent Vs. Buy Analysis for Queens, NY as of 10/5/23

Curious to know what is better, if renting or buying in Queens, NY? I put this story together to illustrate how things would work with real numbers (mortgage rates as of 10/5/23 and updated median prices). You would be surprised that it is still better to own than to rent, from a numbers point of view and of course from a lifestyle point of view. Real Estate in Queens is a great investment. Still. Even with 8 % rates, owning is still very competitive. #RentVsBuy #QueensNY #RealEstate