Buying vs. Renting in 2026: Why Homeownership Is More Affordable Than Rent in Most U.S. Counties

If you’ve been wondering whether it makes more financial sense to keep renting or finally buy a home, the data in 2026 may surprise you.

According to the ATTOM Data Solutions 2026 Rental Affordability Report, owning a home is now more affordable than renting a three-bedroom property in 57.7% of the 364 U.S. counties analyzed.

That means in most parts of the country, the monthly cost of homeownership is lower than rent.

But what does that really mean for buyers in New Jersey, Pennsylvania, and Florida?

Let’s break it down.

Why Buying Is More Affordable Than Renting in 2026

There are three major financial drivers behind this shift:

1. Rents Have Risen Faster Than Mortgage Payments

Rental prices surged over the past several years and have remained elevated. In many markets, landlords adjusted rents upward to keep pace with inflation, insurance increases, property taxes, and maintenance costs.

Meanwhile, buyers who lock in a fixed-rate mortgage stabilize their principal and interest payment long term.

Rent typically increases.A fixed mortgage payment does not.

2. Long-Term Cost Advantage of Owning

While buying requires upfront investment (down payment, closing costs, reserves), homeownership builds:

• Equity

• Appreciation potential

• Tax advantages (where applicable)

• Payment stability

Rent builds none of that.

ATTOM’s CEO noted that upfront costs remain the biggest barrier. That’s true — especially as home prices hit record highs in many regions. But when you look beyond the first year and evaluate total cost over 5, 10, or 15 years, buying often wins.

3. Geographic Differences Matter

Affordability varies significantly by region.

Midwestern counties tend to show stronger buy-vs-rent advantages compared to many Western markets. But what about our core areas?

New Jersey: Is Buying More Affordable Than Renting?

In many South Jersey counties, the math increasingly favors buying — especially when comparing three-bedroom rentals.

Rental rates in areas like Camden, Gloucester, and Burlington Counties have climbed sharply. Meanwhile, mortgage payments (even at today’s rates) often come in comparable to — or below — rent for similar properties.

Key factors in NJ:

• High rental demand

• Limited inventory

• Strong suburban market

• Commuter accessibility to Philadelphia

For many NJ renters paying $2,500–$3,200 per month, buying can be competitive when structured correctly with the right loan program.

Pennsylvania: Strong Buy-vs-Rent Positioning

Pennsylvania markets, particularly suburban Philadelphia counties, often show favorable affordability metrics.

In many PA counties:

• Home prices remain more moderate than NJ

• Property taxes may be lower

• Monthly ownership costs can undercut rent

Buyers in PA frequently discover that with 3–5% down, their monthly payment is similar to — or even less than — a comparable rental.

Florida: Market-Specific Opportunity

Florida is more nuanced.

Certain high-demand coastal counties remain expensive. However, inland and suburban Florida markets often present strong buy-vs-rent advantages.

Additionally:

• No state income tax

• Population growth

• Continued relocation demand

These factors can make long-term homeownership financially compelling — especially for professionals relocating for work.

The Real Obstacle: Upfront Costs

Here’s where most renters hesitate:

• Down payment

• Closing costs

• Escrows

• Moving expenses

But many buyers overestimate what’s required.

Depending on loan program, buyers may qualify for:

• Low down payment options (3–5%)

• Seller concessions

• First-time buyer programs

• Gift funds from family

• Down payment assistance programs

The key is structuring the loan properly — not assuming you need 20% down.

Mortgage Rates vs Rent Inflation

One common mistake renters make is focusing only on today’s interest rate.

Instead, ask:

What will rent look like in five years?

A 30-year fixed mortgage creates payment stability. Rent rarely stays flat.

If rent increases 5% annually, a $2,800 rental becomes nearly $3,600 in ten years. A fixed mortgage payment does not escalate like that.

Who Should Consider Buying Right Now?

Homeownership may make financial sense if you:

• Plan to stay in the home 3+ years

• Need more space (families upgrading from apartments)

• Want predictable housing costs

• Are tired of annual rent increases

• Want to build equity instead of funding a landlord’s investment

If you're relocating for work in NJ, PA, or FL, this is especially worth evaluating.

Should You Wait?

Some buyers are waiting for:

• Lower rates

• Price drops

• Market corrections

But here’s the reality:

When rates drop, demand increases.When demand increases, competition increases.When competition increases, prices often rise.

The cost of waiting can outweigh the benefit — especially if you’re currently paying high rent.

The Bottom Line: Buying Is Often More Affordable Long-Term

The ATTOM data confirms what many buyers are discovering locally:

In most U.S. counties, owning a home is now more affordable than renting a comparable property.

The challenge isn’t monthly affordability.It’s navigating the upfront strategy correctly.

If you’re renting in New Jersey, Pennsylvania, or Florida, it may be time to run the numbers.

Not guess.Not assume.Actually calculate.

Because in 2026, the buy-vs-rent conversation has shifted.

And for many households, buying is winning.