New Realtor.com Report: Renting is More Affordable Than Buying Across All 50 Major U.S. Metros

(4/16/26)  While homeownership remains the American dream and the goal for many Americans, right now the rental market is more affordable across the country, according to a new report by Realtor.com.

The report, released today, found that in March, renting a starter home was the more affordable option across all 50 of the nation’s largest metros, with average monthly savings of $920 compared to buying. Disciplined renters who hold onto those savings can ultimately apply them toward a down payment, creating a path to ownership and a lower mortgage payment when the time comes.

According to Realtor.com, the national median asking rent in March 2026 was $1,669, down $25, or 1.5% year-over-year, marking the 32^nd consecutive month of annual declines for studios to two-bedroom properties.

"A person moving into the typical rental spends less each month than someone buying a starter home today," said Danielle Hale, chief economist at Realtor.com. "As buying costs have eased in many markets, renters who are intentional about saving have a real opportunity to build toward a down payment faster than they might think."

Some markets offer greater savings than others because the gap between renting and buying is the widest, offering renters a greater opportunity to save the difference. Austin tops that list, followed by Seattle, Phoenix, Los Angeles and Dallas.

For more info, check out the report at https://www.realtor.com/research/march-2026-rent.