REPORT: It's Cheaper to Buy than Rent in Needham

NEEDHAM, MA - It's no secret that it's not cheap to live near Boston, but is it so expensive to rent that it's cheaper to buy?

According to a new report, the answer is yes, at least for Needham.

With a median home value of $784,142 and median rent $3,524, it is 25.5 percent cheaper to buy than rent, according to a Trulia report on Boston.com.

Is there any way to get rent down? Ralph McLaughlin of Trulia told the website that if the multifamily construction boom continues, that might have a downward pressure on rents.