Support the fact-based journalism you rely on with a donation to Marketplace today. Give Now!

There are now only 4 major U.S. cities where buying is cheaper than renting

May 25, 2023
That's good news if you're looking to buy in Philadelphia, Detroit, Cleveland or Houston, but what about the rest of us?
Even if monthly mortgage payments are higher than comparable rent, "you get the benefit of building up wealth," said Daryl Fairweather, chief economist at Redfin.
Justin Sullivan/Getty Images

What high mortgage rates have to do with your rent

Apr 11, 2023
Rising mortgage rates have kept would-be buyers renting — straining the supply of available apartments and pushing prices up.
Despite slowing rent inflation, high mortgage rates are keeping some would-be homebuyers in apartments — which can increase competition and boost the cost of rent.
Justin Sullivan/Getty Images

Rent hikes are finally easing — except for renters who can afford it the least

Mar 21, 2023
Rents at the bottom of the market, where supply is tighter relative to demand, have risen faster than those of higher-priced properties.
Rent price growth is stuck at around 8.5% for lower-priced renters, well above the increases in other segments of the market.
Brendan Smialowski/AFP via Getty Images

Housing costs are a main reason inflation is still high

Mar 14, 2023
The cost of shelter is driving more than 70% of inflation right now, according to the Bureau of Labor Statistics. So what gives?
It can take a year or more for changes in housing costs to show up in inflation data.
Allison Dinner/Getty Images

This Florida woman used move-in deals to help save up for a house

Mar 1, 2023
Errica Jamil moved seven times in about as many years, earning her free or reduced rent. Now she owns a home of her own.
Chasing move-in specials every year eventually helped Errica Jamil buy a home of her own.
Brendan Smialowski/AFP via Getty Images

Rents are way up. How are landlords picking the price?

Jan 25, 2023
The national median rent has risen over 20% since 2020, according to Apartment List. And the use of pricing algorithms used by some of the nation's biggest corporate landlords might be playing a role.
While smaller landlords still usually look at comparable units for determining prices, bigger corporate landlords use algorithms.
Joe Raedle/Getty Images

The average U.S. renter now spends 30% of their income on rent, a new all-time high

Jan 20, 2023
When people have to spend more and more on rent, there's not much left over for other essentials.
Though there are large geographic differences, the average renter household in the U.S. is spending 30% of their income on rent.
Joe Raedle/Getty Images

For public good, not for profit.

Renting is now cheaper than owning in most of the country

Jan 20, 2023
A new report from ATTOM says it's now cheaper to rent than own a place in most parts of the country.
A new report says that renting a place in most of the country has become cheaper per month than owning. 
Frederic J. Brown/AFP via Getty Images

Rents are finally starting to fall. Here's why.

Dec 15, 2022
There was a huge surge in demand early in the pandemic. That has cooled down dramatically, and in some areas, demand is starting to be met.
Rents in some of the country's most unaffordable markets have begun to dip.
Joe Raedle/Getty Images

Some signs that rents may be moderating after an up-and-down ride

Oct 25, 2022
Migration shifts due to the pandemic are among the factors that have contributed to price fluctuations in the rental market.
A new report says that renting a place in most of the country has become cheaper per month than owning. 
Frederic J. Brown/AFP via Getty Images