Danielle Cook, Realtor, EXP Realty

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Most people think renting is the “safe” choice. Here’s what the data actually says.

10 reasons owning beats renting:

1. Equity building — the median homeowner net worth is $430,000. The median renter? $10,000. That’s 43 times the wealth, according to the Federal Reserve’s Survey of Consumer Finances.
2. Appreciation — U.S. homes have historically appreciated at an average of 4.27% per year since 1967. Your asset grows while you sleep.
3. Stable housing costs — a fixed-rate mortgage locks your principal and interest for the life of the loan. Rent has no ceiling.
4. Tax advantages — homeowners may deduct mortgage interest and property taxes. Renters deduct nothing.
5. Freedom to customize — no landlord approval. Paint it, renovate it, make it yours.
6. Forced savings — every payment reduces your balance. After 30 years, your mortgage is gone. Rent never stops.
7. Stability and roots — ownership encourages longer-term commitment to a community, a school district, a neighborhood.
8. Rental income potential — house-hack a multi-unit property and let a tenant help cover your mortgage.
9. Leverage — a 5–10% down payment gives you 100% of the appreciation on the full value of the home.
10. The wealth gap is widening — from 1989 through 2022, the median wealth gap between renters and homeowners grew by 70%, and it appears to still be accelerating.

Renting has its place. But if long-term wealth is the goal, the numbers are hard to argue with.

Thinking about making the move? Let’s talk.