According to a recent analysis from Trulia, rising rents and low lending rates have united to make buying a new home 45 percent less expensive than renting in the nation’s 100 largest metros.

This equates to an average savings of $771 a month as long as the conditions are right; buyers must qualify for a 3.5 percent mortgage rate, remain in their Atlanta new home for seven years and fall into the 25 percent tax bracket with itemized deductions to take advantage of homeowner benefits. Trulia also assumed that these buyers would have also made a 20 percent down payment.

When those factors are in place, “homeownership is cheaper than renting in all of the 100 largest metros by a wide margin,” said Jed Kolko, Trulia’s chief economist and head of analytics, in discussing the findings. “There is no market where the financial decision is even close.”

Even in cities such as Honolulu, where the difference between buying and saving was the closest, there was still a savings of 24 percent. Detroit is home to the largest savings with total cost of home buying equating to be 70 percent cheaper than renting.

However, what about buyers whose situations aren’t perfect? Trulia says that even if buyers only remain for five years, only qualify for a 4.5 percent mortgage rate and don’t itemize their deductions, buying still remains cheaper than renting for 96 out of 100 metros.

“Owning will stay more affordable than renting for some time,” Kolko stated. “Right now, the gap is very wide. Even if mortgage rates rose significantly, buying would still be much cheaper than renting in most metros.