NAR Library & Archives has already done the research for you. References (formerly Field Guides) offer links to articles, eBooks, websites, statistics, and more to provide a comprehensive overview of perspectives. EBSCO articles (E) are available only to NAR members and require the member's nar.realtor login.
Statistics & Studies on the Buy vs. Rent Decision
Homeowners vs Renters Statistics (iProperty Management, Nov. 22, 2023)
- The nationwide homeownership rate was 66.0% as of 2023’s third fiscal quarter (2022Q1), a 0.15% increase from the previous quarter (2023Q2).
- As of 2022, 84.6 million out of a total 129.9 million households own their homes.
- 45.2 million households rent their homes.
- 2.7% of occupied housing units are second homes.
- 10.4% of all housing units are vacant, down 2.88% from the previous year.
Rent vs buy – what’s right for you? (NerdWallet)
Should you rent or buy a home? Use our simple rent vs buy calculator to find out which option is best for you.
Should You Rent or Buy? (The Economist, Feb. 10, 2026)
Use the interactive map to explore where in America homebuying is more appealing.
Where New Households Begin: Owning vs. Renting (National Association of REALTORS® Economists' Outlook, Jan. 13, 2026)
In 2024, the U.S. added about 1.4 million new households compared with the year before. However, that growth wasn’t evenly split between renters and owners. Owner households increased by roughly 941,400, while renter households grew by about 463,380. In other words, more of the net household growth last year came from owners rather than renters. For REALTORS®, this context matters. It helps explain why rental markets remain tight, why first-time buyer pipelines are building slowly, and why many markets feel constrained even when demand hasn’t disappeared. Housing demand isn’t driven by a single generation—it reflects younger households forming and older households reshaping how and where they live. Understanding who is forming households, how they enter the market, and where they fit in the housing lifecycle is key to understanding today’s housing dynamics and where opportunities and challenges lie ahead.
Rent vs. Buy: Is Renting Cheaper than Buying a Home? (realtor.com, Dec. 16, 2025)
While renting remains cheaper than buying, with a median mortgage payment of $2,040 versus $1,693 for rent, the gap is narrowing due to lower mortgage rates, making homeownership more appealing for some buyers.
Exploring Housing Affordability: Where Mortgage Payments are Cheaper than Rent Across the US (National Association of REALTORS® Economists' Outlook, Nov. 24, 2025)
To better understand where homeownership may still be attainable, we wanted to identify areas where monthly mortgage payments are lower than rent. We analyzed 215 Metropolitan Statistical Areas (MSAs), calculating median monthly mortgage payments and comparing them to fair market rents determined by the U.S. Department of Housing and Urban Development (HUD). Fair market rent reflects the cost of a moderately priced rental unit within a specific area and is based on data from the most recent American Community Survey (ACS). While three-bedroom homes are the most popular to buy, our analysis focused on that property type. Notably, most of the areas where buying is more affordable than renting are in the Midwest and South, regions that have historically maintained lower home prices.
Is It Better to Rent or Buy?: A Financial Calculator (New York Times, Jul. 2025)
The choice between buying a home and renting one is among the biggest financial decisions that many adults make. But the costs of buying are more varied and complicated than for renting, making it hard to tell which is a better deal. To help you answer this question, our calculator takes the most important costs associated with buying or renting and compares the two options. Note that the “winning choice” is the one that makes more financial sense over the long run, not necessarily what you can afford today. And there are plenty of reasons you might want to rent or buy that are not financial — all we can help you with is the numbers.
Consumer Information, Tips & Resources
Rental Help in Your State (HUD)
In addition to the federal rental assistance, homeownership and home buying assistance programs, there may be programs sponsored by your state or local government or other organizations that can help you.
Rent vs. Buy (My Home by Freddie Mac)
If one day you aspire to be a homeowner, keep your long-term goals in mind. The transition from renting to buying is a big step which requires patience and lots of planning.
First-Time Home Buyer Resources (realtor.com®)
A 12-step home buying guide, home affordability calculator, and a 23-part video series.
Consumer Guide: Preparing for Homeownership (National Association of REALTORS®)
Whether you are a first-time buyer or planning your next move, you should consider many factors as you prepare for the home purchase process. Here’s what prospective buyers should know.
Making the Decision to Rent or Buy (Consumer Financial Protection Bureau, May 2, 2017)
Becoming a homeowner can be a great decision for many people, but it isn’t the right choice for everyone. Homeownership makes sense for different people at different stages of their lives. If you’re not sure whether you should make the move to buy your own home, it makes sense to consider both your personal and financial goals.
Resources for REALTORS®
The Rent Vs. Buy Decision (REALTOR® Store, #186-11-002-RU)
Real Estate Professionals Resource Center (Freddie Mac)
eBooks & Other Resources
eBooks.realtor.org
The following eBooks and digital audiobooks are available to NAR members:
Buying a Home (eBook)
Buying a Home When You're Single (eBook)
Buying Real Estate Without Cash or Credit (eBook)
Don't Rent, Buy! (eBook)
The Essential First-Time Home Buyer's Book: How to Buy a House, Get a Mortgage, and Close a Real Estate Deal (eBook)
Home Buyer's Checklist: Everything You Need to Know -- but Forget to Ask -- Before You Buy a Home (eBook)
Home Buying for Dummies® (eBook)
How to Buy a House : First Time Home Buyer's Quick and Easy Guide to Buying A Home (Audiobook)
Investing In Rent-To-Own Property (eBook)
The Just Right Home (eBook)
Rent vs Own (eBook)
Books, Videos, Research Reports & More
As a REALTOR® member benefit, the following resources and more are available for loan through the NAR Library. Items will be mailed directly to you or made available for pickup at the REALTOR® Building in Chicago.
Buy Your First Home: A Basic Step-By-Step Guide for First Time Home Buyers (Cheyenne, WY : Queen Bee Publisher, Inc., 2012)
The Everything Homebuying Book (Avon, MA: Adams Media Corp., 2003) HD 1341 W38e
House Hunting: The Take-Along Workbook for Home Buyers (Vancouver, BC: Raincoast Books, 2002) HD 1341 H99h
Home Buying for Dummies® (New York, NY, Wiley Publishing, 2001) HD 1341 T98
The Economic Benefits and Costs of Homeownership (Washington, DC: Research Institute for Housing America, 2001) HD 7293 R23e
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The inclusion of links on this page does not imply endorsement by the National Association of REALTORS®. NAR makes no representations about whether the content of any external sites which may be linked in this page complies with state or federal laws or regulations or with applicable NAR policies. These links are provided for your convenience only and you rely on them at your own risk.
