Finding the perfect home doesn’t always mean buying one. In fact, 45.6 million U.S. households are renting, according to the National Multifamily Housing Council, and many are happy to do so. With high home prices, rising interest rates and the added responsibility of upkeep, renting is the most practical option for many.
In some cases, renting is simply more affordable month to month than owning. The average monthly mortgage payment for a median-priced home in 2025 was $2,329, according to Rocket Mortgage. Meanwhile, the average national rent came in lower at $1,96 per month, according to Realtor.com. If you're not ready to make a large down payment or you're still deciding where to put down roots, renting can offer the financial breathing room and freedom you need.
