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Renting may seem like the easier choice right now. There’s no big down payment, no surprise repairs, and no long-term commitment. However, your rent goes up again. And again. And suddenly renting seems… expensive, especially considering you’re not building any equity.
There’s so much content about how buying a home isn’t affordable. But the truth is, the math probably works in your favor.
Buying Is More Affordable Than Renting in Many Areas
In many places today, owning a home actually costs less each month than renting. And recent data from ATTOM shows that’s true in nearly 58% of counties across the U.S.
In other words, even though it may feel like a bit of a shock, the numbers show rent often stretches monthly budgets more than owning does. That’s thanks to slower home price growth, more homes for sale, and monthly mortgage payments starting to ease as rates come down.
Bottom Line
Renting isn’t always the more affordable option people assume it is – and buying may be more realistic than it feels once you look at the full picture.
If you’re renting and feeling stuck in the “someday” loop, it might be worth a simple conversation. Just a chance to see what’s possible and whether it makes sense for you.
