If you’ve been sidelined in the single-family homeownership dream, you can console yourself with the knowledge that you’re saving over $1,000 a month.
In the top 20 single-family rental markets, it remains cheaper to rent than to own, when comparing monthly rent to the monthly mortgage payment and maintenance costs for a comparable starter home.
On average, purchasing a starter single-family home now costs $1,091 more per month than renting a comparable property, according to a new report from John Burns Research & Consulting. With other types of properties included, the gap dips to $1,067, according to the Realtor.com® economic research team.