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The Endless Debate: Rent vs. Buy

While initially getting into a rental may be "less expensive" up front, have you considered the long term costs renting actually costs you year over year?  The increase in 2021 in rental prices soared compared to those of recent years. This means there truly are not any "deals for those considering renting vs. purchasing a home. The National Housing Forecast from realtor.com projects rental units will continue to grow this year: “In 2022, we expect this trend will continue and fuel rent growth. At a national level, we forecast rent growth of 7.1% in the next 12 months, somewhat ahead of home price growth . . .” This means moving into a rental will cost you far more than it has in past years.

For a comprehensive debate on renting vs. buying click here.

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