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

Homeownership in the Houston area remains 43 percent more affordable than renting through 2014’s third quarter, according to a new analysis by Trulia; that’s slightly below a 45 percent rate in the summer of 2013 – after all, home prices have risen dramatically in Houston the last year  – but only when rates reach 12.9 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.