In Atlanta, which had the most favorable values for owning versus renting, the monthly payment on the average home was $539 assuming a 20% down payment during the third quarter. The average asking rent stood at $840, according to the data.

Relative to rent, Atlanta's home values are now the cheapest in the nation. Saving this for the next "housing prices are still too high" thread on Ritholtz.

Own vs. Rent: A Growing Reason to Buy - WSJ.com