Lately, recession talk has been everywhere. And with economic uncertainty in the air, a lot of people are wondering:👉 What would a recession mean for the housing market in San Antonio, New
Why It’s Getting Cheaper to Buy a Home Than Rent in Many Areas
Dated: September 30 2024
Views: 82
Are you currently renting and wondering if it’s time to make the leap into homeownership? According to a recent study by Zillow, monthly mortgage payments are now lower than rent payments in 22 of the 50 largest metro areas. Thanks to easing mortgage rates, stabilizing home prices, and increasing inventory, it’s becoming more affordable to buy a home than rent in many parts of the country.
This is exciting news if you’ve been renting for a while, especially if you’re in one of these metro areas. But even if your city hasn’t made the list yet, don’t worry. The housing landscape is changing quickly, and your market might soon follow suit. Having a conversation with a local real estate expert could reveal that your dream of homeownership is more attainable than you think.
Why You Should Start Planning to Buy Now
While the study mainly compares rent to principal and interest on a mortgage (not factoring in additional expenses like taxes, insurance, and maintenance), renters face extra fees too, such as utilities, parking, and renters' insurance. When you add it all up, the math may favor buying—especially since homeownership offers the added benefit of building long-term wealth through home equity.
As Orphe Divounguy, Senior Economist at Zillow, points out:
“...for those who can make it work, homeownership may come with lower monthly costs and the ability to build long-term wealth in the form of home equity — something you lose out on as a renter. With mortgage rates dropping, it's a great time to see how your affordability has changed and if it makes more sense to buy than rent.”
How to Know If You’re Ready to Buy
The big takeaway here is that with dropping mortgage rates and increasing home inventory, now is a fantastic time to re-evaluate your finances. It’s all about doing the math and seeing if buying a home makes more sense for you today than it did a few months ago. But don’t worry—this doesn’t have to be a daunting task. A local real estate agent can help you crunch the numbers and guide you through the process, so you’re informed and ready to jump back into the market when the time is right.
Bottom Line
If you’re tired of renting and want to know if homeownership is within reach, now’s the time to explore your options. Let’s do the math together to see if buying a home makes sense for you. As the market shifts, you might find it’s more affordable than ever to become a homeowner. Let's connect today and begin the conversation to make your homeownership dreams a reality.
Ready to take the next step? Schedule a call today HERE or click HERE for a home valuation.
David Beere
Sell Your Home for Top Dollar in Less Time with David BeereWhen it comes to selling homes quickly and profitably in San Antonio, Austin, New Braunfels, and surrounding areas, David Beere with Texas Pr....
Latest Blog Posts
If you've been waiting for the “perfect” time to buy, here’s something to consider: home prices are still rising, and experts say they won’t be coming down anytime soon.With
Is a Newly Built Home Right for You? The Pros and ConsWhen searching for a home, don’t overlook the option of new construction homes. Right now, there are more newly built homes available than
February 24, 2025 | For Sellers | Inventory | 3 min readSelling your home is a big decision, and it’s natural to have questions. Many homeowners in San Antonio, TX, hesitate to list their
Austin Board of REALTORS® Copyright ©2026 All rights reserved.
Information provided courtesy of LERA MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is believed to be accurate but not guaranteed. Provided courtesy of LERA MLS. Copyright 2026 LERA MLS, All Rights Reserved. Data last updated September 24, 2026 9:47 PM UTC
Central Texas MLS | Four Rivers Association of REALTORS® All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties
