Is homeownership better than renting?

Answer

Homeownership can be better than renting for a family, but it depends on the family's current circumstances. Low-to-moderate income buyers are able to purchase an affordable home these days, and many studies show that home ownership most likely will be cheaper and more beneficial than renting in the long run. But for some people, renting may better fit their lifestyle and situation. For more information about the pros and cons of buying a home, read the Affordable Homeownership Guide.

More Homeownership FAQs from Low Income Households

  • How can homeownership benefit me?
  • How can homeownership benefit me?
  • How to buy a home with bad credit?
  • Are there HUD homeownership programs?
  • How does homeonwership affect your credit score?