Many experts find renting may be a better long-term choice

(InvestigateTV) — The U.S. Census reports that the average price of a new home in of April 2025 was $518,400, leaving many to wonder if home ownership is right for them.

Taelor Candiloro, a data researcher with This Old House research team, looked at data from Zillow, Freddie Mac and the U.S. Census across 300 of the most populous U.S. cities.

Candiloro looked at things like mortgage rates, home prices, rent, property taxes, maintenance cost and she found that on the West Coast it may be more cost effective to rent a home. On the East Coast the opposite is true, people might save more money in the long run buying a home.

“Figure out how long you’re wanting to stay somewhere,” she advised. “If you plan to stay in the same city for ten or plus years, buying might be a great investment for you. While you will be, you know, shoveling out those costs for owning that home over that 30-year period, you’re also building equity.”

She said people who know where they want to live but are uncertain if they will stay ten or more year may be better off financially renting. Renting may allow people to save more money over time and avoid the hidden costs of home ownership.

“Just beyond your mortgage payment, consider your insurance,” she noted. “You know, maintenance, routine maintenance can really add up depending on what projects are working on. You might want to consider some repairs. So just planning for those hidden costs of homeownership is a good call if you’re planning to put down roots.”

Candiloro also looked at the cost to rent versus buy over a 30-year period. She found the typical renter in the US will spend approximately $1.42 million whereas homeowners will spend about $1.8 million. That’s about a 27% difference in cost or a $380,000 difference.

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