As a renter, it’s normal to wonder whether you’re paying too much for rent, especially if you recently received a notice that your cost is going to increase. Rental prices fluctuate significantly in different locations because of things like supply and demand, population density, and local amenities.
Renting remains more affordable than buying a home in many areas, but there are locations where purchasing a house is immediately cheaper, offering a financial advantage. When you also consider that purchasing a home allows you to accumulate equity, finding a house to purchase in these locations seems like a pretty smart financial choice. Although renting and owning could both help you build wealth, depending on the circumstances, if you live in an area where renting is clearly more expensive than owning, it makes sense to look for a home to purchase.
Determining whether you live in an area where rental prices are higher than buying can be difficult to do on your own. Consumer Affairs recently put together a list of southern American cities and found some where the median rent in 2025 was higher than the average 2025 monthly home payment. Alexandria, Louisiana; Florence, South Carolina; Enid, Oklahoma; Sumter, South Carolina; and Beckley, West Virginia, all are cities near the top of the list where you may want to consider buying a house instead of leasing a home or apartment to gain a financial advantage.
Alexandria, Louisiana, has recently seen home values slightly drop
Alexandria, Louisiana, has an estimated population of 43,100, according to the U.S. Census Bureau, and ranks 10th in population in the state of Louisiana. Late in 2025, Realtor.com listed the median home listing price in the city at about $173,000, a drop from a peak of $199,000 in early 2024. This drop helps to make local homes more affordable. U.S. News lists the median home value in Alexandria at $166,300, which is significantly lower than the national average home value of $370,500…