The results of the latest Rent vs. Buy Report published by Trulia, shows that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States.

The average homeowner has a net worth of $174,500 while the average net worth of a renter is $5,100 according to a study by the Federal Reserve. Wow!

When it comes to a home, you have two options: buy or rent. What is right for one person may not be right for another, which is why its important to know which is the best option for your individual situation.