The math is good and that is why people buy homes when they pay 2k in rent and can buy for 400k or under, find an example and it will probably sell. That example isn’t easy to find in S.D.
When the typical 2k rental sells between 600k and 800k, you get websites like this.
I’ll riddle you one better. I am looking at rentals right now for an October move in. I can buy a place that rents for about 1700-2000 in the 300-345 range for new construction. Talk about a nail biter. I keep running the numbers and it’s a wash, wait till those fundamentals hit S.D. next year and see how short you fingernails get because I’m down to bloody nubs.
