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Renting is Cheaper Than Owning in All Major U.S. Cities [New LendingTree Report]

Written by Posted On Tuesday, 13 January 2026 11:12

LendingTree report shows U.S. homeowners with a mortgage now pay 37% more per month than renters, underscoring how sharply monthly housing costs have climbed. Here's what else we found.

  • U.S. homeowners with a mortgage pay $6,576 per year more than renters — that's a $548 monthly gap, up $50 from 2023.
  • Rent wins in every major metro. Even in the tightest markets — Phoenix, Orlando and Columbia, S.C. — renting is still $184–$271 cheaper per month.
  • San Francisco tops the cost gap. Renters there pay $1,565 less per month than homeowners with a mortgage. Bridgeport, Conn. ($1,427) and New York ($1,409) follow.
  • Percentage gaps are widest in the Northeast. New York, Bridgeport and Providence lead, where homeowners pay 66%–76% more than renters. In 22 of the 100 largest metros, owning costs at least 50% more each month.

You can check out the full report and city rankings here: https://www.lendingtree.com/home/mortgage/comparing-rent-vs-owning-a-home-in-nations-largest-metros/

LendingTree's Chief Consumer Finance Analyst, Matt Schulz, says he understands those numbers can be discouraging:

“The cost disparity here could be enough to convince someone that they’ll never be able to own a home in some areas, and — unfortunately — they may be right. When it costs so much more to own than to rent, it forces people who want to own a home to face some tough decisions, including potentially having to relocate to another city in search of reasonably priced property.”

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LendingTree

LendingTree is an online lending marketplace headquartered in the United States. The business platform allows potential borrowers to connect with multiple loan operators to find optimal terms for loans, credit cards, deposit accounts, insurance, etc.

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