Looking at the numbers, Long Beach clearly has a rental advantage, but it is a market where the gap is relatively smaller compared to cities in Orange County.

The median home price in Long Beach is about $788,693 (a 1.3% decrease over the past year), and rents for a two-bedroom are around $2,400 per month.

Calculating the Price-to-Rent Ratio gives us 27.4, which is the result of dividing $788,693 by the annual rent of $28,800.

A ratio above 21 indicates a rental advantage market, and while 27.4 is lower than Irvine (30.7) or Fullerton (33.6), it still falls within a range favorable for renting.

When calculating actual payments, with a 20% down payment of $157,739 and a fixed 30-year mortgage at 6.75%, the principal and interest would be $4,092 per month, and the total PITI (Principal, Interest, Taxes, and Insurance) would be $4,935 per month. Compared to the rent of $2,400, this results in a monthly difference of $2,535, which amounts to over $30,000 annually.

The opportunity cost of the $157,739 down payment should also be considered. Assuming a 7% return, this represents a potential annual income of about $11,042 that is being foregone, which should be weighed against the principal repayment accumulating each month.

Compared to nearby cities like Rossmoor and Signal Hill, Long Beach has diverse rental demand due to its port and downtown accessibility. Data shows that Long Beach has a relatively lower entry barrier compared to cities in Orange County, making it a consistent area for investment inquiries.

Depending on personal circumstances, households planning to stay long-term (5 years or more) and with the ability to make a down payment may consider purchasing. However, for those with tight finances or potential mobility, data suggests that renting is a safer choice.

For Korean households, Long Beach is conveniently located between LA and Orange County, with lower entry costs compared to other nearby cities. However, the current numbers still indicate a rental advantage, so careful consideration based on financial capacity is advisable.