Report Shows Where It's Cheaper to Rent or Buy

Real estate data firm Attom Data Solutions' 2018 Rental Affordability Report says that in 54 percent of the U.S. counties analyzed, buying a median-priced home is more affordable than renting a three-bedroom unit.

Daren Blomquist, senior vice president of communications at Attom Data Solutions explained to The Washington Post that the majority of housing markets where it's more affordable to buy than rent a home is "shrinking"; home prices have been increasing faster than rents in most housing markets. The data show that it's cheaper to rent than buy in Los Angeles County, Cook County (Chicago), New York City, Seattle, Las Vegas, San Jose, San Francisco, and Boston.

When the analysis is evaluated by population rather than the number of markets, the majority of the U.S. population (64 percent) lives in markets where renting is more affordable. This is particularly true in major population centers: renting is more affordable than buying in 76 percent of counties with a population of 1 million or more. In the District and other nearby counties in suburban Maryland and Northern Virginia, it’s more affordable to rent than to buy

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