50 largest US metros show renting more affordable than buying due to high mortgage rates, home prices, and falling rents.

Realtor.com's February Rental Report reveals that renting is now more affordable than buying in all 50 largest US metros. Elevated mortgage rates, high home prices, and falling rents have contributed to this shift, with the average mortgage payment on a starter home in these metros costing $1,027 more than the monthly rent. In February, 45 metros favored renting, but in the current report, all 50 metros show savings for renters.

March 26, 2024
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