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Renting proves to be extra reasonably priced than shopping for a house in largest US metro areas

Renting proves to be more affordable than buying a home in largest US metro areas

by JANAE BOWENS | The National Desk

FILE – A sign indicating the availability of a home to rent stands outside a building in Philadelphia, Wednesday, June 22, 2022. (AP Photo/Matt Rourke, File)


The dream of homeownership remains increasingly difficult for most Americans to achieve due to rising costs. Renting may be the best option for those looking for a house to call their own.

A new study from Bankrate found renting is 37% cheaper than buying a typical home in all 50 of the largest U.S. metropolitan areas. As of February 2024, the typical monthly mortgage payment was $2,703 while the average rent was $1,979.

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