Question

a house in Florida is priced at $155,000 the rent on a comparable houses $950 per month find the price to rent ratio​

Answer 1

The price to rent ratio calculated is 13.6.

Explanation:

As per the stated question,

the house in florida was priced at $155,000 and

the rent that was comparable houses was $950 per month.

The house rent for a year can be calculated as 950 x 12 = 11400

Henceforth, the formulae for price to rent ratio was given as

`\text { rent ratio }=\frac{\text { median home price }}{\text { median home rent }}`

=
`(155000)/(950 * 12)=(155000)/(11400)=13.6`

therefore the price to rent ratio is 13.6