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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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"Russ knew the market for the neighborhood I lived in and guided me thru the entire process, from how to stage my home and the price my home would sell for. My house sold in 22 days on the market. A very good experience. Thanks Russ!"
- Richard P., Quail Creek
"Great Experience! We purchased a home in Quail Creek last May – while living in Illinois. Russ was super communicative on every topic / question we had, efficient with the transaction overall and really knowledgeable about the community. Highly recommend!"
- Deb W., Quail Creek
"Russ did a great job on taking us through the process of purchasing our new home. He is an excellent Realtor who smoothly managed our purchasing requests with fellow agents. He knows what needs to be done and worked hard to keep the process on track. He also used his list of resources to schedule home and pool inspections in a timely manner. Russ also walked us through the more challenging action of acquiring the sellers solar panel loan; a potentially lengthy process. Also, Russ was easy to contact and always got back to us immediately with accurate answers to our questions. His use of technology to officially sign documents was extremely helpful. Based upon our statement of needs, Russ was able to take us to homes that we felt would work well for us. My wife and I both highly recommend Russ Fortuno as an agent for any home buyer in the Green Valley and Quail Creek area."
- Wayne D., 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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