In San Antonio, the monthly math still comes down on the side of renting. In 2024, renters faced a median bill of about $1,422, while homeowners with a mortgage shelled out roughly $2,023. That $601 gap makes owning a home in the metro about 42% more expensive each month and is already influencing how some locals think about whether it is worth jumping into the housing market.
The comparison comes from a LendingTree analysis of 2024 U.S. Census Bureau data that stacked up median monthly gross rent against median monthly housing costs for mortgaged homeowners across the 100 largest U.S. metros. Nationally, homeowners with a mortgage paid a median 36.9% more per month than renters, and in 22 of those 100 metros, owning cost at least 50% more each month. Matt Schulz, LendingTree’s chief consumer finance analyst, warned that the widening gap could push some would-be buyers to delay or even give up on homeownership for now.
How San Antonio Stacks Up
As reported by Axios San Antonio, the metro’s median monthly gross rent in 2024 came in at just over $1,400, compared with more than $2,000 for homes with a mortgage. Even after utilities, fees and taxes are factored in, renters were still looking at the lower monthly payment. That $601 spread puts San Antonio near the middle of major metros where owning remains noticeably more expensive than renting.
City Versus Metro Figures
Zoom in on the city itself and the numbers shift a bit. U.S. Census Bureau QuickFacts for the City of San Antonio list a median gross rent of $1,324 for the 2020-2024 period and a median selected monthly owner cost with a mortgage of $1,801. Those figures show how city limits can paint a somewhat different picture than metro-wide averages. U.S. Census Bureau QuickFacts is the underlying data source LendingTree used for its metro comparisons, and those finer distinctions can matter for buyers deciding exactly where to look.
What To Consider If You’re Deciding
Owning a home still offers advantages that a simple month-to-month cost comparison cannot capture, including building equity and potential tax perks. At the same time, mortgage payments, property taxes and insurance can push ownership costs well above what renters are paying. For people weighing the tradeoffs, LendingTree recommends shopping around for different mortgage products, setting a realistic timeline and accounting for non-mortgage costs before making a move…