Renting remains more affordable than homeownership in nearly three-quarters of the most populated counties in the United States, according to ATTOM Data Solutions' 2021 Rental Affordability Report.

Renting is more affordable than buying a home in 18 of the country's 25 most populated counties, and in 29 of 44 counties with a population of 1 million or more, including Los Angeles, Houston, San Diego, Chicago, and Orange County, Calif. It's also more affordable to rent than buy in counties in the New York City, Seattle, Dallas, San Francisco, San Jose, Boston, and Riverside, Calif., areas. (On the flip side, it's more affordable to buy in counties in the Phoenix, Miami, Fort Worth, and Fort Lauderdale metros.) Wages are increasing more than average fair market rents in 81 percent of the counties analyzed, including in Los Angeles County, Cook County (Chicago), Maricopa County (Phoenix), San Diego County, and Orange County. 

Meanwhile, owning a median-priced three-bedroom home is more affordable than renting in 572 of the 915 U.S. counties analyzed in the report – despite the fact that median home prices have increased more than average rent in 83 percent of those areas. What's more, home prices in almost two-thirds of the counties surveyed have increased more than wages.