Buying a home in the US is 38% more expensive than renting: analysis reveals

The U.S. real estate market is expected to be stable for the next five years, according to a new analysis. Buying a home in the United States is currently significantly more expensive than renting, and this situation is expected to continue for at least the next five years.

An analysis released Thursday by CBRE, a real estate market analysis firm, shows that the average monthly payment for a new rental apartment in the U.S.

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is $2,165. The average monthly mortgage payment on a new home is $2,997, meaning families on average need 38% more money to buy than to rent, according to the analysis.

The difference between renting and buying real estate is particularly pronounced in markets such as Los Angeles, San Francisco, Seattle, Denver and Nashville, Tennessee. The analysis also shows that Chicago, Dallas, and Raleigh, North Carolina, expect to return to pre-epidemic levels of rent/purchase differentials in the next five years.