Deciding Whether To Rent Or Buy? Buying A House Can Pay Off Sooner Than Renting In These Markets

Homebuyers making a 20% down payment can gain about $427,000 more than renters over 30 years, with break-even points varying by city. Some Midwest and Southern cities have break-even times under five years, while West Coast cities like Portland and San Diego take 16 to 23 years. Renting may be better in markets with long break-even periods or for those seeking flexibility. Comparing mortgage lenders and improving credit can help secure better loan terms.