Also check out the price to rent ratio in the area, in some places you'll pay significantly more than mortgage to rent, in others you'll pay significantly less. (money.stackexchange.com)
Think of the price to rent ratio as an indicator of how much money you pay for each dollar of gross income. (investingarchitect.com)
We then estimate the effect on rents implied by keeping the city - wide income - to - rent ratio fixed. (apartmentlist.com)