06/10/2026
Why pay your landlord's mortgage when you could be building equity in a home of your own?
For many Americans, buying a home has become significantly more expensive than renting. But there are still a handful of states where the opposite is true.
According to recent estimates, average rent exceeds estimated monthly mortgage payments in just 11 states: Connecticut, Vermont, Wisconsin, Illinois, Pennsylvania, Missouri, Indiana, Mississippi, Michigan, Ohio and Iowa. These states stand out at a time when high home prices and elevated interest rates have pushed mortgage costs above rent in much of the country.
That doesn’t necessarily mean buying is cheaper overall. Property taxes, insurance, maintenance costs and down payments can add substantially to the cost of homeownership. Still, the map highlights how dramatically housing affordability has shifted in recent years.
If you live in one of these states, does this reflect what you’re seeing in your local housing market?
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