The cost difference between owning a home and renting an apartment has reached its widest gap in more than 15 years.
Owning a home costs $1,176 more per month than renting from a professionally managed apartment complex, according to analysis by the National Multifamily Housing Council.
NMHC examined the growth rate of apartment rents relative to the cost of all consumer goods as well as the monthly cost of homeownership. The amount by which rent growth exceeds overall inflation has slowed since the beginning of the pandemic while the premium to buy a new home relative to what it costs to rent an apartment has risen to its highest level since the peak of the housing bubble in the mid-2000s.
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