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You are here: Home / Blog / Home Ownership

Buying a home makes more financial sense than renting

May 1, 2023

Why Buying a Home Makes More Sense Than Renting Today

Wondering if you should continue renting or if you should buy a home this year? If so, consider this. Rental affordability is still a challenge and has been for years. That’s because, historically, rents trend up over time. Data from the Census shows rents have been climbing pretty steadily since 1988.

“In March 2023, the U.S. rental market experienced single-digit growth for the eighth month in a row,” according to data from the latest rental report from Realtor.com. “The median asking rent was $1,732, up by $15 from last month and down by $32 from the peak but is still $354 (25.7%) higher than the same time in 2019 (pre-pandemic).”

With rents much higher now than they were in more normal, pre-pandemic years, owning your home may be a better option, especially as rents continue to increase year after year. In contrast, homeowners with a fixed-rate mortgage can lock in a monthly mortgage payment for the duration of their loan (typically 15-30 years). And, as home values typically rise over time and you pay off your mortgage, you build equity. If you’re trying to decide whether to buy a home or continue renting, let’s connect to explore your options.

Filed Under: Home Ownership Tagged With: Home Prices, Inflation, Rent vs. Own

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"My experience with Russ was excellent. Russ even helped get the property ready for sale since I was out of state. He took care of everything. He was great!"
- Gilbert W., Quail Creek
"Our situation was complex and Mr. Fortuno’s knowledge and experience made for a seamless transition. The timing of our sale was paramount and it happened as planned. His knowledge of the market was of upmost importance. Our home was priced accordingly and sold immediately. Additionally, Mr. Fortuno was available for our questions with prompt replies, often considerations or options. Our experience was “top notch” and we highly recommend him."
- Pat N., Quail Creek
"Russ is a Realtor you will want to use! We worked with Russ to sell our property, all while we were living out of state. We got the selling price we wanted, he was always responsive to phone calls, texts, emails; went out of his way numerous times to make sure things like permits were in place or that services to the property were being taken care off. If Russ was licensed in other states I would always use him."
- Tom S., Quail Creek
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Russ Fortuno, Associate Broker

I'm a Southern Arizona native and Quail Creek resident. Whether you’re buying or selling a home in Quail Creek, you’ll experience unsurpassed service and professionalism at all stages of your real estate transaction. I welcome the opportunity to assist in your next home sale or purchase.
Meet Russ

Tierra Antigua Realty

18745 S. I-19 Frontage Rd., Ste. A105
Green Valley, AZ 85614
(520) 333-0446
Contact Russ

This site is not affiliated with Robson Communities or the Quail Creek Country Club Property Owners Association.
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