Renting is cheaper than owning a home in all 100 of the largest U.S. metro areas — including Miami — according to a LendingTree analysis.
Why it matters: Housing costs have soared nationwide, with stubbornly high home prices and mortgage rates weighing on would-be buyers.
- Homeowners with a mortgage now pay around 37% more per month than renters, researchers found.
By the numbers: The median monthly gross rent was nearly $1,500 in 2024, based on the latest available census data, compared to over $2,000 a month for mortgaged homes.
- That gap widened from the year before as homeownership costs rose faster than rents.
The big picture: In 22 of the 100 largest metros, owning costs at least 50% more each month than renting, including utilities, fees and taxes…