Housing market 2022: Is it cheaper to buy or rent

Housing market 2022: Is it cheaper to buy or rent in Tampa Bay?

• While it’s still more affordable to buy a home than it is to rent in most places across the U.S.,

that gap is narrowing.

• Attom Data Solutions, recently analyzed where it’s more affordable to either own a median priced

home or to pay the average rent on a three-bedroom rental unit, across 1,154

counties in its 2022 Rental Affordability Report.

• It found, despite home prices growing faster than rents in 90% of the U.S., it’s typically more

affordable to own a home in 666, or 58%, of counties, analyzed.

• In the Tampa Bay area, it’s more affordable to buy a home instead of renting one —

depending on where you reside. In Hillsborough, Hernando and Pasco it’s cheaper to buy,

but in Pinellas County, it’s cheaper to rent.

• Attom found in Hillsborough County the median rental rate for a three-bedroom apartment

in 2022 is $1,867. The median home sale price from January to November 2021 was

$323,000.