In some markets, homeownership makes more sense than renting as costs are similar, while in expensive coastal areas, many potential buyers must rent.
A home on the market in Denver, Colo., on Feb. 10, 2024. David Zalubowski/AP Photo
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While homeownership remains a top goal for many Americans, an April 16 report from Realtor.com indicates renting is the more affordable option now in all 50 largest U.S. metros.
“A person moving into the typical rental spends less each month than someone buying a starter home today,” Realtor.com chief economist Danielle Hale said in a statement.
