I was curious what the rising costs of renting versus owning were. Talking to home owners who says their monthly rates don't go up but renting does. This doesn't take into account rising taxes, maintenance and insurance costs.
I compared 3 markets (florida, ohio, california) and this is the quick recap (time frame: 2020 – 2025):
Of course, each market are quite different. Cost increases were higher for home owners in florida, slightly higher for renters in ohio, and lower for rent controlled renters in california (about the same for non rent controlled)
This was eye opening for my friends because it dispells the myth that once you buy a house, your ownership costs do not increase.
Side-by-side comparison
| Market | Rent Increase (Typical Annual) | Homeowner Cost Increase (All-in) | Who gets hit harder? |
|---|---|---|---|
| Fort Lauderdale | 5–9% (volatile spikes) | 6–10%+ (insurance-driven) | Homeowners (long-term) |
| Columbus | 4–6% (steady) | 3–5% (stable) | Renters slightly |
| Los Angeles | 1–4% (controlled) / 4–7% market | 4–6% | Depends (rent control matters) |
Comparing yearly increases of renting versus home ownership
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