Renting 60 Percent Cheaper Than Buying in Top 100 US Cities: Study

Many Americans are still being priced out of homeownership due to high interest rates and increasing home costs, according to a real estate finance expert.

A sign advertising units for rent is displayed outside of a Manhattan building in New York City on April 11, 2024. Spencer Platt/Getty Images

A recent study by HomeAbroad, a financial and property tech platform, revealed that renting is now 57 percent less expensive than buying across the top 100 U.S. cities.

Only five cities were found to offer cheaper rates for buying: Grand Rapids, Michigan; Lakeland, Florida; Pittsburgh; Philadelphia; and Miami.