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Renting Is Cheaper Right Now. Here's When Buying Still Wins.
Renting a home in most major metros right now is about 37% cheaper per month than owning the same home. We're realtors, and we're telling you that anyway.
This week on Disclosures, we dig into whether homeownership is still the American dream — or whether the dream itself needs redefining. We get into the dispute over the average first-time buyer's age (NAR says 40; the Mortgage Bankers Association says closer to 32 — and the difference in how they count matters), the $141,000 household income now required for the median U.S. home, why the buy-vs-rent break-even has stretched from 5–7 years to roughly 10 at today's rates, and the transaction costs that quietly eat $50,000 of equity faster than most sellers expect.
Then we take on the "dream home" itself. The house with everything you could imagine often comes with a payment that kills every other dream you have. We'd rather help you find the home that funds your life than the one that displays it.
Talk through your own situation with us: https://www.thetartanteam.com/book
Also mentioned in this episode:
Nick's coverage of Zillow v. MRED at Realtor Gone Rogue: https://realtorgonerogue.substack.com
CHAPTERS
0:00 – Back from Chicago: Zillow v. MRED
1:21 – A July 4th phone call from Compass CEO Robert Reffkin
2:51 – Is homeownership still the American Dream?
6:01 – Is the average first-time buyer really 40? (NAR vs. MBA)
8:05 – $32k gifts and the $141k income question
10:38 – Renting is 37% cheaper per month — the math
12:08 – The net worth gap: $430k vs. $10k
13:40 – Why the buy-vs-rent break-even is now ~10 years
14:40 – The forced-savings effect (and the disciplined-renter loophole)
17:06 – The real reasons people buy: stability, control, roots
23:19 – The "forever home" myth
25:57 – Transaction costs: how 9–10% eats $50k of equity
28:02 – Is 6% actually an outlier? Rates in historical context
30:31 – Redefining the dream home
36:00 – Buy what's important, not more
38:38 – Why most agents won't tell you to rent (we will)
40:19 – Frenzy regret and the lock-in effect
43:21 – Don't rush: our closing advice
45:56 – Wrap-up
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By Nick Aufenkamp and Dave Miller | The Tartan TeamRenting a home in most major metros right now is about 37% cheaper per month than owning the same home. We're realtors, and we're telling you that anyway.
This week on Disclosures, we dig into whether homeownership is still the American dream — or whether the dream itself needs redefining. We get into the dispute over the average first-time buyer's age (NAR says 40; the Mortgage Bankers Association says closer to 32 — and the difference in how they count matters), the $141,000 household income now required for the median U.S. home, why the buy-vs-rent break-even has stretched from 5–7 years to roughly 10 at today's rates, and the transaction costs that quietly eat $50,000 of equity faster than most sellers expect.
Then we take on the "dream home" itself. The house with everything you could imagine often comes with a payment that kills every other dream you have. We'd rather help you find the home that funds your life than the one that displays it.
Talk through your own situation with us: https://www.thetartanteam.com/book
Also mentioned in this episode:
Nick's coverage of Zillow v. MRED at Realtor Gone Rogue: https://realtorgonerogue.substack.com
CHAPTERS
0:00 – Back from Chicago: Zillow v. MRED
1:21 – A July 4th phone call from Compass CEO Robert Reffkin
2:51 – Is homeownership still the American Dream?
6:01 – Is the average first-time buyer really 40? (NAR vs. MBA)
8:05 – $32k gifts and the $141k income question
10:38 – Renting is 37% cheaper per month — the math
12:08 – The net worth gap: $430k vs. $10k
13:40 – Why the buy-vs-rent break-even is now ~10 years
14:40 – The forced-savings effect (and the disciplined-renter loophole)
17:06 – The real reasons people buy: stability, control, roots
23:19 – The "forever home" myth
25:57 – Transaction costs: how 9–10% eats $50k of equity
28:02 – Is 6% actually an outlier? Rates in historical context
30:31 – Redefining the dream home
36:00 – Buy what's important, not more
38:38 – Why most agents won't tell you to rent (we will)
40:19 – Frenzy regret and the lock-in effect
43:21 – Don't rush: our closing advice
45:56 – Wrap-up