Finding the right place to call home is one of life’s most important decisions, impacting everything from where you work to the people you spend your time with.
It’s also becoming increasingly difficult to afford.
According to a 2025 Pew Research Center survey, nearly 70 percent of
Americans say they are “very concerned” about the cost of housing, a 10 percent increase year-over-year.
The causes are many and multifaceted, including demand significantly outpacing supply, higher interest rates (the average annual rate on a 30-year fixed-rate mortgage nearly doubled in 2023 alone!), and rising construction costs.
Simply put, if you feel like housing is unaffordable, you’re not alone.
Fortunately, purchasing a home isn’t the only path to a stable and affordable housing option that facilitates a life you love.
While buying has long been seen as the default path, renting a single-family home offers compelling financial flexibility and lifestyle advantages that are often overlooked.
Especially now, renting can be a significantly more affordable and financially savvy choice.
Let’s explore five specific ways renting a single-family home can put you ahead financially in 2025
#1 Avoid Thousands in Upfront Ownership Costs
One of the biggest hurdles to homeownership is the substantial amount of cash required just to get the keys.
While the required down payment on a mortgage can vary (typically between 3% and 20% of the home’s purchase price), it often requires tens of thousands of dollars just to initiate a mortgage.
Of course, buying involves much more than just the down payment; you also face closing costs, property taxes, and initial escrow deposits.
For the average home purchase, these can add tens of thousands of dollars to the purchase price. Renting, on the other hand, requires significantly less cash upfront.
You’ll typically pay application fees, perhaps an administrative or pet fee, and a refundable security deposit.
For a comparable rental home, the total initial outlay might be closer to ~$3,000, a 10x cost reduction that keeps tens of thousands of dollars liquid and available to use for investing, building an emergency fund, or pursuing other financial goals instead of tying it up immediately in housing.
#2 Escape Ownership’s Hidden Monthly Costs
The reality of homeownership includes numerous ongoing expenses that can fluctuate and increase over time, making budgeting difficult.
For example, owners face recurring bills for:
- Principal & Interest
- Property Taxes (2% increase per year)
- Homeowner’s Insurance (increasing exponentially because of climate risks)
- Private Mortgage Insurance (1% of loan amount)
- Lawn Maintenance (5% increase every 3 years)
- Pest Control (5% increase every 3 years)
- Repairs & Maintenance (3.0% increase per year)
This doesn’t even account for potential Homeowners Association (HOA) fees in many communities or the repair costs associated with purchasing an older home. For instance, repair or restoration costs on a 40-year-old home can be substantial ($20k-$40k+), making the home ownership even more expensive.
Considering the substantial repair costs ($20k-$40k+) often needed for the average 40+ year-old US home, and the difficulty buyers face financing these through traditional mortgages,
Meanwhile, rental housing mitigates many of these costs, requiring just a monthly base rent, landscape fee, and renter’s insurance policy.
In this way, renting offers greater predictability.
While rent can increase over time, your primary monthly housing cost is much clearer and bundles many expenses. You won’t face surprise bills for sudden property tax hikes or rising insurance premiums.
#3 Reclaim Your Weekends (and Your Wallet)
Maintaining a home takes significant time, effort, and money, burdens that renters simply don’t have.
Homeowners are responsible for everything from routine upkeep to major repairs. This includes recurring costs like lawn care (averaging $1,200+/year) and pest control ($200+/year).
Additionally, general repairs and maintenance, which started at over $1,800 annually and tend to increase annually, total ~$36,000 over a decade.
Then there are the significant capital expenditures – the big-ticket items like needing a new roof, replacing an HVAC system, or buying a new water heater – that can unexpectedly cost thousands of dollars. According to one homeowner survey, more than half of homeowners say they can’t afford a major home repair.
Finally, don’t ignore the opportunity costs. What could you be doing with all the time homeowners spend on tasks like mowing?
Think of all the time spent on tasks like mowing (the average homeowner mows 1,000 times in their lifetime!), shoveling snow, or fixing leaky faucets.
#4 Reinvest Your Savings for Long-Term Wealth Creation
A common argument for buying is building home equity. While equity can be a valuable asset, it’s not guaranteed, comes with associated costs (like those mentioned above), and isn’t the only way to build wealth.
In the Hunter Housing Economics analysis, the total cost of owning the example home over 10 years was ~$413,412, while renting the same home cost ~$300,454 – a difference of ~$113,000.
The study concluded that by investing these substantial savings (for example, in a diversified stock market portfolio), the renter could potentially end up in a better financial position – approximately $31,000 ahead after 10 years in their specific scenario, even after accounting for the owner’s net home equity gains.
#5 Gain Financial Flexibility and Reduce Risk
Beyond the direct cost savings, renting offers crucial advantages in adaptability and risk mitigation.
Life changes. You get a new job opportunity in another city, your family grows and you need more space, or you’re downsizing later in life.
Renting makes relocating much easier and less expensive, allowing you to avoid the high transaction costs (realtor commissions, closing costs) and time commitment in selling a home. It also injects liquidity into your finances. The typical home is on the market for up to three months, potentially putting homeowners in a difficult position if they need to transact quickly.
Furthermore, homeowners bear the direct financial risk of the housing market.
If property values decline, owners could find themselves owing more than their home is worth or forced to sell at a loss.
Renters are insulated from these fluctuations in property value, reducing exposure to market volatility while offering more freedom to live your lifestyle without being financially constrained by an illiquid asset.
A Smart, Affordable Choice for Modern Living
As we’ve seen, renting a single-family home offers tangible financial benefits: dramatically lower upfront costs, more predictable monthly expenses, freedom from costly maintenance, the potential for greater wealth creation through reinvested savings, and enhanced flexibility with reduced market risk.
Quinn Residences provides homes with life in mind, so you can enjoy the desirable lifestyle of a single-family home – the space, the yard, the community – without the financial burdens and risks of ownership.
Want to Learn More?
- Read the Data : Hunter Housing Economics Buying vs Renting Case Study (Final)
- Explore Quinn Residences: Visit www.live-quinn.com to learn about their modern rental communities.
- Join the Conversation: Follow Quinn Residences on LinkedIn, Facebook, and Instagram for the latest updates.
Renting isn’t just a place to live—it’s a strategy for building wealth. Whether you’re a first-time renter or a lifelong homeowner, this report offers valuable insights for anyone navigating today’s housing market.
