Renting remained more affordable than buying a starter home across the 50 largest U.S. metropolitan areas in March, with renters saving an average of $920 per month, according to Realtor.com.
The report said the national median asking rent was $1,669 in March 2026, down $25, or 1.5%, from a year earlier and marking the 32nd consecutive month of annual declines for units with zero to two bedrooms.
Despite the continued decline in rents, the cost advantage of renting narrowed by $136 over the past year as buying costs eased, the report said.
“A person moving into the typical rental spends less each month than someone buying a starter home today,” Chief Economist Danielle Hale said, adding that renters who save the difference may be able to build a down payment more quickly.
The report found that in Austin, Texas, monthly costs to buy a starter home were $1,719, or 126.3%, higher than renting.
Realtor.com said that if current trends continue, buying could become more affordable than reanting in about 10 years on average across major markets, as homebuying costs decline faster than rents.
“What’s striking is that the crossover in these markets is being driven by two different forces,” economist Jiayi Xu said, citing rising rents in some areas and declining purchase costs in others.
In some Midwest markets, including Cleveland, Milwaukee, and Detroit, the savings from renting increased compared with a year earlier, according to the report.
In higher-cost markets such as San Jose, Los Angeles, and Boston, buying remains significantly more expensive despite a narrowing gap, the report said.
Realtor.com also said rents declined across all unit sizes in March and are expected to continue falling on a year-over-year basis through 2026, even as seasonal increases may occur during peak leasing periods.
The full report is available at https://www.realtor.com/research/march-2026-rent/.
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