7 Cities Where Buying Is More Affordable Than Renting

January 13, 2020
Tampa Florida Skyline
Tampa Florida Skyline By SeanPavonePhoto - Adobe Stock

Higher demand, higher prices: This supply-and-demand principle holds up in high-priced cities with large populations such as New York City and San Francisco. But that is not always the case: By choosing smaller-scale markets such as Pittsburgh, Pennsylvania, and Tampa, Florida, buyers can purchase their urban dream home without breaking the bank. Here are 7 population-dense cities where buying is cheaper than renting—see if your city makes the list. 

In just over half of U.S. counties it is more affordable to buy a home than to rent one, according to a study released yesterday by the national property data analysts at ATTOM Data Solutions. However, the trend reverses when looking at high-density counties, which means in most of the places where people choose to live, it is generally less expensive to rent than buy. However there are a handful of locations around the country where there are both large populations of people and homes that are still more affordable to pay a monthly mortgage on rather than rent to a landlord. Here are seven of them along with median home prices:

  • Miami-Dade County FL: $349,250
  • Broward County, FL: $330,000
  • Wayne County (Detroit), MI: $110,000
  • Philadelphia County, PA: $225,000
  • Hillsborough County (Tampa), FL: $239,950

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