Realtor.com: Renting Still More Affordable Than Buying in June
(Pittsburgh, courtesy of muhannad alatawi/pexels.com)
Realtor.com, Santa Clara, Calif., released its June 2025 rental report, finding year-over-year rents declined and renting a starter home continues to be a more affordable option than buying in the vast majority of U.S. metros.
Asking rents fell 2.1% year-over-year (the equivalent of $36), marking the 23rd straight month of year-over-year declines for 0–2-bedroom units. The median asking rent stood at $1,711.
That is up narrowly from May, by $6, and the fourth straight month in which rents rose from the previous month. However, that’s a consistent seasonal trend, and the month-over-month increases are less than they were this time last year.
Median rent fell in all size categories. For studios, it’s at $1,422, down $33 or 2.3% year-over-year. For 1-bedroom units it’s $1,587, down $42 or 2.6% year-over-year; for 2-bedroom units it’s $1,899, down $40 or 2.1% year-over-year.
Renting a starter home is more affordable than buying in 49 of the 50 largest metros, saving renters an average of $908 a month, or 53.1%. However, the gap is tightening year-over-year–in June 2024 it was $956, or 54.7%.
In only one metro–Pittsburgh–is buying cheaper than renting. In Memphis, renting overtook buying over the past year.
In the Austin, Texas, metro area, renters are seeing the largest percent savings. A renter saves an average of $1,683 per month in the Texas capitol, or 114.7%.
Austin is followed by the Los Angeles metro area, then San Francisco, Seattle and Phoenix, Ariz.
