Realtor.com: Renting Beats Buying in All Major Metros
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Realtor.com, Santa Clara, Calif., released its latest Rental Report, finding that March marked the 32nd consecutive month of year-over-year declines for 0-2 bedroom rentals across the 50 largest metros.
The national median asking rent was down $25 compared with March 2025. It stands at $1,669, $95 lower than its summer 2022 peak, but $249 higher than the pre-pandemic level.
Broken down by size categories, for studios it was down $10 to $1,410, for 1-bedroom units it was down $18 to $1,563 and for 2-bedroom units it was down $33 to $1,859.
Realtor.com predicts that median asking rent will increase slightly month-over-month in the typical spring seasonal pattern. But, the forecast also provides for continued year-over-year declines.
Renting a starter home remains a more affordable option than buying in every metro analyzed, with average monthly savings of $920. There’s a massive range though–renters in Pittsburgh would save just $64 monthly, compared with $2,425 in San Jose, Calif.
The Austin, Texas, market tops the list of “rent-favoring” markets. The monthly buy cost is $3,080, with the median rent at $1,361. That means the percentage difference between buying vs. renting is 126.3%. Next is the Seattle market, with a 108.25% rental advantage, and the Phoenix, Ariz., market with an 83.1% advantage.
However, the overall advantage of renting shrank compared with a year ago, largely driven by softening mortgage rates.
“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.”
