Homeownership Outpaces Renting in Affordability Across Majority of U.S. Counties
Owning a home has become the more economical choice compared to renting in 57% of U.S. counties, according to a recent ATTOM report. Despite this advantage, soaring upfront costs—including down payments, closing fees, and hidden expenses—continue to deter potential buyers from leaving the rental market.
Home prices have climbed relentlessly, marking 30 consecutive months of increases as of December. Rob Barber, CEO of ATTOM, notes that while buying remains the smarter long-term financial move, record-high prices are making initial investments increasingly prohibitive.
Hidden costs of ownership, such as maintenance, taxes, and insurance, add nearly $16,000 annually to homeowner expenses, per Zillow calculations. These financial barriers highlight the shifting dynamics between renting and buying, even as affordability tilts toward ownership.
