When conditions are right, owning in our area is much more affordable than renting.

Homeownership in the Atlanta area remains 47 percent more affordable than renting through 2014’s third quarter, according to a new analysis by Trulia; that’s consistent with the 47 percent rate in the summer of 2013 – mortgage rates have fallen, and rents continue to increase, off-setting home price increases  – and only when rates reach 13.8 percent will renting finally be more affordable than owning.

Of course, there are a couple of qualifiers to such an encouraging stat: not only does Trulia’s analysis assume a 20 percent down payment on a 30-year FRM, but it also counts on tax deductions at 25 percent and that the owner stay in the property for seven years.