To buy or to rent is always the big question, and unless you’re planning on living in Pittsburgh, in 49 of the other major metro areas, it’s cheaper to rent than to buy. In fact, on average it’s $908 per month cheaper.
Median rent saw a decline in year-over-year costs for the 23rd consecutive month in June. While the median rent is $48 less than the peak reached in August 2022, it is still $268 higher than in June 2019.
Finally, while it is still cheaper to rent than to buy (except in Pittsburgh, of course), the overall advantage of renting is less than a year ago. Who knows that the next year will bring?