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☆ As more consumers struggle with credit card debt, here's what to know heading into the holiday season
▼ + stars: | 2023-11-08 | by ( Sharon Epperson | In Sharoneppersoncnbc | ) www.cnbc.com time to read: +3 min

That climbing "credit card delinquencies" rate may trend higher this holiday season. Knowing what the words credit card delinquencies mean is important because being delinquent or late with card payments can lower your credit score. Annual percentage rate (APR)If you're paying for holiday purchases with a credit card, you should know the annual percentage rate, or APR, on it before you buy. The average APR on a credit card is more than 21%, according to Bankrate, and nearly 30% for retail store credit cards. A LendingTree survey of 100 cards found some retail cards can have interest rates as high as 35%.

Persons: Matt Schulz, LendingTree Organizations: Federal Reserve Bank of New

☆ 3 big reasons exchange-traded funds went 'mainstream' with investors
▼ + stars: | 2023-11-06 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

Mutual fund trades, by contrast, are executed once a day and all investors get the same price. Investors pulled more than $900 billion from mutual funds in 2022 and funneled about $600 billion into ETFs, according to Morningstar. There were 419 U.S. ETF fund inceptions in 2022, versus 197 mutual funds, Morningstar found. 3 big reasons ETFs have gotten popularThere are three big reasons investors, in aggregate, have preferred ETFs over mutual funds, experts said. When asset managers buy and sell securities within mutual funds, those trades may trigger capital gains taxes for fund investors.

Persons: Kathrin Ziegler, Morningstar, Bryan Armour, Armour, Rosenbluth Organizations: Digitalvision, Getty, Mutual, North America, Morningstar, of Iowa Locations: U.S

☆ A meteoric rise in worker health costs has slowed — but they’re already 'egregious,' advisor says
▼ + stars: | 2023-11-06 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Employer-sponsored health plans have many moving parts that can affect workers' wallets. Workers pay $1,401 in total premiums in 2023, up 18% from 2018, according to KFF, a nonprofit health-care data provider. (This cost is for employer-sponsored health plans and assumes consumers receive in-network care.) That has led employers to make their health plans more competitive to attract and retain staff. One in four employers report being highly concerned about the affordability of cost-sharing within their health plans, according to KFF.

Persons: it's, Carolyn McClanahan, Matthew Perry's, Matthew Rae, Rae, KFF, That's, It's, that's, McClanahan, doesn't Organizations: Planning Partners, Finance, Security, Workers, Digitalvision Locations: Jacksonville , Florida

☆ Retirement is overrated, Gen Z says, as ‘soft saving’ trend takes hold
▼ + stars: | 2023-11-04 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

Ted Rossman senior industry analyst at BankrateIn addition to soaring food and housing costs, millennials and Gen Z face other financial challenges their parents did not as young adults. Gen Z workers are the biggest cohort of nonsavers, Bankrate also found. Most financial experts recommend having at least three to six months' worth of expenses set aside. "Every dollar you set aside in your 20s will compound over time," Rossman said. "Compound interest is the eighth wonder of the world," Rossman added, referring to an earlier comment Einstein reportedly said.

Persons: Ted Rossman, Gen Zers, Gen, Bankrate, Kara Duckworth, Duckworth, Rossman, Einstein Organizations: Getty, Financial Independence, Bankrate, Bank of America, Intuit, Mercer Advisors

We are buying 50 shares of Oracle (ORCL), at roughly $105.18 apiece. Following Wednesday's trade, Jim Cramer's Charitable Trust will own 775 shares of ORCL, increasing its weighting in the portfolio to 3% from 2.82%. Looking ahead, investors are waiting on the cloud industry to hit an inflection point and return to accelerating growth. Notably, Oracle stock is still trading a few dollars lower than the level it reached ahead of the company's AI Executive Forum event on Oct.19. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer's, Jim Cramer, Jim, Erik Isakson Organizations: Oracle, ORCL, Software, Microsoft, Amazon, Google, Nvidia, Devices, CNBC, DigitalVision, Getty

☆ Why working longer is a bad retirement plan
▼ + stars: | 2023-10-31 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

Daniel Gonzalez | Moment | Getty ImagesWorking longer is among the best ways to ensure you don't outlive your retirement savings. When it comes to retirement age, there's a big gap in expectations versus reality. But the actual retirement age was 62, on average. watch nowThose who target a retirement age past 61 end up making it about half as far as expected, he found. Social Security's full retirement age has gradually been pushed back, to as late as age 67 for anyone born in 1960 or after.

Persons: Daniel Gonzalez, Gallup, Blanchett, Richard Johnson, —, EBRI, Johnson Organizations: Gallup, Urban Institute . Pensions, Urban Institute

☆ Picking health insurance can be tricky: 6 key terms to know as open enrollment starts
▼ + stars: | 2023-10-24 | by ( Greg Iacurci | ) www.cnbc.com time to read: +8 min

PremiumsFrederic Cirou | Photoalto | Getty ImagesThe premium is the sum you pay an insurer each month to participate in a health plan. It's perhaps the most transparent and easy-to-understand cost component of a health plan — the equivalent of a sticker price. The average co-insurance rate for consumers is 19% for primary care and 20% for specialty care, according to KFF data. For example, would you struggle to pay a $1,000 medical bill if you require health care? If so, a health plan with a larger monthly premium and a smaller deductible may be your best bet, Sun said.

Persons: Frederic Cirou, Karen Pollitz, Luis Alvarez, you've, KFF, Pollitz, McClanahan, there's, Winnie Sun, She's, Sun, Carolyn McClanahan Organizations: Sdi, Photoalto, Kaiser Family Foundation, CNBC, Digitalvision, Getty, Kaiser Family Foundation Health, Network Health, Sun Group Wealth Partners, CNBC's FA Locations: Aetna, Irvine , California, CNBC's

☆ What to know as IRS kicks off withdrawal option for pandemic-era small business tax credit
▼ + stars: | 2023-10-23 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

The Good Brigade | Digitalvision | Getty ImagesThe IRS has announced a special withdrawal process for small businesses that wrongly claimed a pandemic-era tax break — and experts have tips for those who may be affected. Worth thousands per eligible employee, the ERC attracted a cottage industry of companies pressuring small businesses to amend payroll tax returns and wrongly claim the credit. The IRS on Thursday unveiled a withdrawal option for small businesses with pending ERC claims before facing repayment, interest and penalties. "This is a game-changer," said Eric Hylton, national director of compliance for Alliantgroup, a firm that has been reviewing ERC claims for other tax professionals. As of Oct. 11, the agency estimated a backlog of 849,000 Forms 941-X, which includes ERC claims.

Persons: Eric Hylton, I'm, Hylton, you've, there's, It's, Dean Zerbe, Zerbe Organizations: Brigade, IRS, ERC, Alliantgroup Locations: Worth, It's

☆ Lawmakers take aim at credit card interest rates, fees as cardholder debt tops $1 trillion
▼ + stars: | 2023-10-10 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

"We do not see a path forward for legislation to cap credit card interest rates," Seiberg said. There are 70 million more credit card accounts open now than in 2019, it said. Credit card interest rates have predominantly remained below 36% due to "self-restraint" by banks, though that's still "extremely high" for a credit card, said Lauren Saunders, associate director at the National Consumer Law Center. I think some of the [political] lines are starting to blur a little bit, at least on credit card issues. How to reduce your personal card rate to 0%Rossman's general advice to consumers: Make your personal credit card rate 0%.

Persons: Luis Alvarez, Rossman, Seiberg, There's, that's, Lauren Saunders, Ted Rossman, Sen, Bernie Sanders, Alexandria Ocasio, Glenn Grothman, Grothman, Hawley Organizations: Digitalvision, Getty, Cowen Washington Research Group, Republican, Federal Reserve Bank of New, Federal Reserve, National Consumer Law Locations: Federal Reserve Bank of New York, Alexandria, Cortez, Jesús, Chuy, García

☆ How AI assistants are being positioned for everyday work and school life
▼ + stars: | 2023-10-10 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +5 min

Experts predict the role of hotel concierge is a profession example of where analyzing decades of data and experience can allow an AI assistant to guide human workers to the best decisions. San Francisco was an obvious choice: "This is the epicenter, where all the work is happening," said Vijay Karunamurthy, Field CTO at Scale AI, which plays a key role in providing the data to AI companies whose large language models need to advance their exponential learning. "A couple of square blocks around our office in Mission, you have OpenAI, Google, Meta… pretty much everyone is flocking here. 1 predictor of success in a higher education program is the removal of life barriers. "A model that understands where you are in your journey and can understand those challenges and relate."

Persons: Alistair Berg, Digitalvision, VCs, CNBC's, Vijay Karunamurthy, Julia Boorstin —, Omer Davidi, Shah —, — Karunamurthy, Shah, Dan Rosensweig, ChatGPT, Chegg, … Organizations: Google, CNBC Senior Media, Tech, CNBC, Fortune Locations: San Francisco, Francisco, Mission

☆ The cost of applying to college: 'Bare minimum,' expect $1,200 on application fees, says expert
▼ + stars: | 2023-10-04 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

Still, students are applying to more schools to try to get a leg up — no matter the cost. "We are seeing a large increase in the number of applications students are submitting," Greenberg also noted. Students apply to twice as many schools as they did a decade ago, he said. At the same time, more students were eligible for a fee waiver, although not all requested one. (Many colleges also offer a college-specific fee waiver, and SAT or ACT testing fees can be waived on a case-by-case basis.)

Persons: Brian Snyder, Robert Franek, Greenberg, Eric Greenberg, Ariel Skelley, That's Organizations: Reuters, The Princeton, Greenberg, Ivy League, Digitalvision

Tim Robberts | Digitalvision | Getty ImagesWhen it comes to money, women tend to think of themselves as savers rather than investors. "The biggest risk to women's portfolios is that we don't take enough risk," said Nancy Tengler, CEO and chief investment officer of Laffler Tengler Investments in Scottsdale, Arizona. "Women make better investors than men," Tengler said, and are often less benchmark driven, willing to do more research and are open to changing their minds. Women investors tend to achieve positive returns and outperform men by 40 basis points, according to research from Fidelity Investments, based on an analysis of annual performance for 5.2 million accounts. There are reasons why women should stay actively involved in the management of their household finances, according to Tengler.

Persons: Tim Robberts, Nancy Tengler, Tengler, Edward Jones, Lena Haas Organizations: Digitalvision, Investments, Fidelity Investments, Boston Consulting Group, Microsoft, Apple Locations: Scottsdale , Arizona

Following Tuesday's trade, Jim Cramer's Charitable Trust will own 575 shares of ORCL, increasing its weighting in the portfolio to 2.17% from 1.91%. And given the market will likely soon be oversold, according to the S & P 500 Short Range Oscillator , we are looking to put our cash to work — and are buying shares of Oracle into weakness. Oracle stock pulled back earlier in the month after the company missed on quarterly revenue estimates and provided an outlook that failed to live up to lofty expectations. And in a market concerned about the impact of higher interest rates, we think buying some 'GARP-y' names on weakness makes sense. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer's, Safra Catz, Mad, Catz, it's, Jim Cramer, Jim, Erik Isakson Organizations: Oracle, ORCL, Nvidia, Management, Jefferies, CNBC, DigitalVision, Getty

☆ Passport delays are still long: Apply at least 6 months ahead of travel, says State Department
▼ + stars: | 2023-09-22 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

Americans should review current processing times before making any definite or nonrefundable travel plans, a State Department spokesperson said. A routine passport application currently takes 10 to 13 weeks to process, according to the State Department. Expedited passport processing costs an extra $60. For comparison, before the pandemic, it took two to three weeks for expedited passports and six to eight weeks for routine passport processing, the State Department said. The price varies depending on the area of the country, according to the State Department.

Persons: Antony Blinken, Blinken, Thomas Barwick, haven't, you've, Jose Organizations: The State Department, Digitalvision, State Department, United States Postal Service, Urgent

☆ This account is like an ‘extra strength’ Roth IRA, advisor says. Here's when to use it
▼ + stars: | 2023-09-19 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

That means a saver would generally rarely if ever pay tax on their HSA money, unlike retirement accounts such as a pre-tax or Roth IRA. Because health-care costs are "inevitable" in old age, the HSA functions like "an off-label account for retirement preparation," Vargas said. Anyone who can afford to do so should try to pay out of pocket for current health costs and allow HSA investments to grow, advisors say. The IRS counts qualified medical expenses as those generally eligible for the medical and dental expenses tax deduction. For example, if a saver has credit-card debt, paying that down would take priority over funding an HSA, McClanahan said.

Persons: Carolyn McClanahan, Vargas, Roth, HSAs, they'd, Luis Alvarez, McClanahan, Sabino Vargas Organizations: Maskot, Getty, Roth IRA, IRS, Digitalvision, Workers, Planning Partners, IRA, Vanguard Locations: Jacksonville , Florida

Marco Vdm | E+ | Getty ImagesThe wage gap costs women in the U.S. about $1.6 trillion a year, a new report finds. Women earned 78 cents for every dollar that men made in 2022, according to National Partnership for Women and Families. Forty-two percent of the wage gap is the result of occupational segregation, which was exacerbated by the pandemic, the U.S. Department of Labor has found. To that point, half of U.S. adults said women being treated differently by employers contributes to the pay gap, the Pew Research Center found. That pay scale worsens for each major racial or ethnic group in the country, with white female workers paid 74 cents to the dollar; Black female workers, 66 cents; and Latina female workers, 52 cents.

Persons: Marco Vdm, We've, Jocelyn Frye, Mandi Woodruff, Santos, Frye, Woodruff, Jose Luis Pelaez Organizations: National Partnership for Women, U.S . Census Bureau, U.S . Department of Labor, Pew Research Center, Latina, MandiMoney, Jose Luis Pelaez Inc, Getty Locations: U.S

☆ Ozempic, Wegovy may curb drinking, smoking and other addictive behaviors – here's what we know
▼ + stars: | 2023-09-10 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +7 min

Jaap Arriens | Nurphoto | Getty ImagesHeather Le Biller shed 9 pounds within the first week of taking Novo Nordisk 's blockbuster diabetes drug Ozempic – and then even more as she continued treatment. That means it could take years before the Food and Drug Administration and other regulators worldwide approve drugs like Ozempic and Wegovy as addiction treatments. Jerlhag and her colleagues at the University of Gothenburg in Sweden have studied the effect of GLP-1s on addictive behaviors for more than a decade. "The mechanism in the brain that regulates overeating is important in regulating addictive behaviors as well," Leggio told CNBC. Still, NIDA's Leggio advises against using GLP-1s off-label to reduce addictive behaviors, "simply because there's not enough evidence in humans that they work."

Persons: Jaap Arriens, Heather Le Biller, Ozempic –, Le Biller, they're, Angela Fitch, Brandon Bell, Dr, Lorenzo Leggio, semaglutide, –, Eli Lilly, pharmacologist, Jerlhag, George Frey, NIDA's, Leggio, Steven Batash, Batash, NIDA's Leggio Organizations: Nurphoto, Novo Nordisk, CNBC, Wegovy, Obesity Medicine Association, and Drug Administration, Pharma, National Institute on Drug, University of Gothenburg, Company, Reuters, Brigade, Getty Locations: Riga, Latvia, France, Ozempic, Novo, U.S, Italian, Austin , Texas, Sweden, Provo , Utah, Queens , New York

☆ 8 easy — and cheap — ways to cut your carbon emissions
▼ + stars: | 2023-08-30 | by ( Greg Iacurci | ) www.cnbc.com time to read: +7 min

Here are some easy — and inexpensive or no-cost — ways to reduce your carbon footprint today, according to efficiency and environmental experts. As such, the average household saves about $225 in energy costs per year by switching to LED lighting, the Energy Department said. Cut food wasteErlon Silva - Tri Digital | Moment | Getty ImagesThe average American wastes more than 400 pounds of food a year. A washing machine spends 90% of its energy to heat water, for example, the Consumer Federation of America said. Even putting something like a brick in your toilet tank will displace — and therefore save — water.

Persons: Katharine Hayhoe, Keoleian, Jose Luis Pelaez, Hayhoe, Oscar Wong, Tom Werner, Digitalvision Organizations: Nature Conservancy, Texas Tech University, U.S . Department of Energy, Energy Department, Silva, Tri, Environmental, Agency, Consumer Federation of America, Public, Getty Locations: U.S

☆ As recession fears fade, we may be experiencing a 'richcession' instead — here’s what that means for you
▼ + stars: | 2023-08-16 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

"Although we are not in an overall recession yet, the demand for and wages of lower-income groups are outpacing higher-income groups." But there still aren't enough workers to fill open positions in the service industry and the unemployment rate remains near a 50-year low at just 3.5%. What a 'richcession' means for consumers"Recession is a loaded term," said Jacob Channel, senior economist at LendingTree. "White-collar jobs might not be as plentiful as they were last year, but they're still around." "On the contrary, most current data indicates that despite numerous headwinds, the broader economy is doing remarkably well, all things considered," he added.

Persons: Tomas Philipson, Jacob Channel Organizations: University of Chicago, White House Council, Economic Advisers, Digitalvision, Challenger

☆ Selling Sunset's Emma Hernan and other experts say now is the time to buy a house: 'It's one of the best investments you could make'
▼ + stars: | 2023-08-04 | by ( Celia Fernandez | ) www.cnbc.com time to read: +2 min

Real Estate experts tell CNBC Make It why they think now is the time to buy a home. "This isn't the market where sellers can just try for a high number and see if it'll happen." "When it comes to real estate, I think it's one of the best investments you could possibly make. Think about the big picture and look at real estate as an investment for your future. Emma Hernan Star of Netflix's "Selling Sunset" and real estate agent at The Oppenheim Group

Persons: Mike Biryla, Mike Biryla Real, they're, Emma Hernan, Hernan, Marko Geber, you'll, Emma Hernan Star Organizations: CNBC, The Agency, Digitalvision

☆ As student loan payments restart, can employers be a firewall for borrowers? Some groups hope so
▼ + stars: | 2023-07-17 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Kate_sept2004 | E+ | Getty Images17% of employers offer some kind of student loan aidFew employers offer student loan benefits, which can take many forms. Seventeen percent offer some type of student loan assistance, according to a 2021 survey by the Employee Benefit Research Institute. The most popular workplace programs don't offer direct relief for student loan payments. The expanded tax break for student loan payments is temporary, however. Starting in 2024, employers will also be allowed to pay a 401(k) match to borrowers making student loan payments, a provision enacted by a 2022 law known as Secure 2.0.

Persons: Will Hansen, We're, Derrick Johnson, Johnson, Luis Alvarez, SHRM, We've, Randi Weingarten, " Hansen Organizations: Research, of America, NAACP, Digitalvision, Getty, American Federation of Teachers Locations: Albuquerque , New Mexico, Washington, Orange County , Florida

☆ These are America’s 10 worst states to live and work in for 2023, and there's a big surprise at the very bottom
▼ + stars: | 2023-07-14 | by ( Scott Cohn | ) www.cnbc.com time to read: +11 min

By the numbers, these are America's worst states to live and work in for 2023. 2023 Life, Health & Inclusion Score: 129 out of 350 points (Top States Grade: D) Strengths: Air Quality, Childcare, Worker Protections Weaknesses: Inclusiveness, Reproductive Rights9. 2023 Life, Health & Inclusion Score: 113 out of 350 points (Top States Grade: D-) Strength: Crime Rate Weaknesses: Childcare, Inclusiveness6. 2023 Life, Health & Inclusion Score: 98 out of 350 points (Top States Grade: F) Strength: Air Quality Weaknesses: Voting Rights, Reproductive Rights, Crime4. 2023 Life, Health & Inclusion Score: 75 out of 350 points (Top States Grade: F) Strength: Air Quality Weaknesses: Reproductive Rights, Health, Voting Rights1.

Persons: Roe, Wade, North Carolina Governor Roy Cooper, Ron DeSantis, Daniel A, Varela, DeSantis, Benjamin Krain, Sarah Huckabee Sanders, Douglas Mason, Indiana Matt Carr, Cangelosi, Nichole, Emily Curiel, Jim Watson, Willie B, Thomas, Digitalvision, Scott Zdon, John Bel Edwards, Oklahoma Dr, Franz Theard, Paul Ratje, Brandon Bell Organizations: Business, North Carolina Governor, CNBC, Florida, Florida Florida Gov, HB, Mater Academy Charter, School, Miami Herald, Getty, White, Northern Illinois University, Sunshine, Arkansas Little Rock Police Department, FBI, United Health Foundation, Health, Tennessee, Bonnaroo Music, Arts Festival, Getty Images Tennessee, Indiana, Stone, Hoosier, Missouri, Country Club, Kansas City Star, Tribune, Service, Emily Curiel | Kansas, Star, Reproductive, Alabama Voters, Beulah Baptist, AFP, Alabama, Center, Election Innovation, Research, South Carolina Senior, Gov, Reproductive Clinic, Washington, Washington Post, Texas, Texas State Capitol Locations: States, Florida, Texas, Florida Florida, Hialeah Gardens , Florida, Little Rock , Arkansas, Arkansas, Manchester , Tennessee, Louisiana, Mill Creek, Emily Curiel |, Montgomery , Alabama, Carolina, Oklahoma, Santa Teresa , New Mexico, Austin , Texas

☆ Many Americans fear a recession as severe as 2008 could be coming. Here’s what experts say
▼ + stars: | 2023-07-07 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

To that point, 68% are expecting a recession in the next six months, and 80% of those respondents expect it to be severe. Experts weigh in3 reasons it can be smarter to rent, even if you can buy Yet, predictions from various experts are not as dire. watch nowAt Raymond James, the current forecast calls for a "very, very mild" recession, according to chief economist Eugenio Aleman. Raymond James is predicting a 1.3% growth rate for 2023 and 0.6% for 2024 — which coincides with the firm's forecast for a "very, very mild recession," Aleman said. To cope with high inflation, Nationwide's survey found more than half of respondents are eating out less, with 54%.

Persons: Jamie Grill, We're, Kathy Bostjancic, it's, Raymond James, Eugenio Aleman, Aleman, Nonfarm, —, Gray, Tang Ming Tung, Bostjancic Organizations: Finance, Nationwide, U.S . Department of Labor, ADP, Employers, Challenger, Federal Reserve, Getty, Auto Locations: U.S, American

☆ Canceled, delayed flights are likely over July 4 holiday weekend. What to know about your rights
▼ + stars: | 2023-06-30 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Over 2.8 million travelers are expected to pass through airport security checkpoints on Friday — a single-day record, according to the Transportation Security Administration. This comes as severe storms and staffing shortages have already derailed thousands of flights this week. Federal law doesn't require airlines to pay compensation to passengers for delays, Palmer said. The U.S. Department of Transportation's Airline Customer Service Dashboard outlines passenger rights for specific airlines. Even if a delay isn't their fault, many airlines will transfer your ticket to another airline's flight with available seats at no additional cost — if you ask, according to the U.S. PIRG Education Fund.

Persons: Andrew Bret Wallis, Pete Buttigieg, Kimberly Palmer, Palmer, Murray Organizations: DigitalVision, Transportation Security Administration, TSA, U.S, U.S . Department of Transportation's, PIRG

☆ 3 U.S. cities where it's cheaper to buy a home than to rent one—none are in Florida
▼ + stars: | 2023-06-29 | by ( Celia Fernandez | ) www.cnbc.com time to read: +3 min

Redfin ranked the only four cities in the U.S. where it's cheaper to buy than rent. But there are a few cities where taking on that mortgage — instead of paying monthly rent — is the smarter financial decision. Top 3 cities where it's cheaper to buy than to rentDetroit, Mich. Philadelphia, Pa. Cleveland, Ohio In Detroit, the number one city on the list, the typical home is 24% less expensive to buy than rent. The average estimated monthly mortgage payment for homebuyers is $1,296, compared with an average estimated monthly rent of $1,697. Philadelphia, Pennsylvania ranked as the second city in the U.S. where it's cheaper to buy a home than rent.

Persons: Redfin, Taylor Marr, Marr, Jon Lovette, Cleveland , Ohio Ken Redding Organizations: Detroit, Istock, U.S, General Motors, Ford, America, Chrysler, DigitalVision, Cleveland, Bank, Getty Locations: U.S, Mich, F11photo, Detroit, Philadelphia, Pa . Cleveland , Ohio, Chicago, Philadelphia , Pennsylvania, New York City, Ohio, Cleveland , Ohio

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