D
etroit and Pittsburgh are the only major US cities where buying a home is cheaper than renting one, according to new analysis. The two Rust Belt cities have the lowest average listing prices among the 50 largest metro areas, making mortgage payments lower as well. In Pittsburgh, the average home price was $229,700 in January, with a monthly mortgage of $1,199 - more than $200 less than the city's typical rent of $1,413.

    However, the gap between buying and renting is narrowing in Pittsburgh due to declining rental prices and rising home prices. Detroit, recently named the most affordable city in the US, also has lower rental costs. The typical home was listed at $239,950, with a monthly mortgage of $1,252 - below average rent of $1,313.

    Across the US, most metros have become more affordable for both buyers and renters over the past year, according to Realtor.com analysis. However, the number of cities where it's cheaper to buy than rent has dropped from six last year to just two in 2025, reflecting declining rental prices and high mortgage rates.

    The ongoing decline in rental prices and elevated mortgage rates have made the housing market more renter-friendly nationwide. Average rents across the US declined 0.2 percent year over year to January, reaching $1,703. In contrast, Americans are still feeling the pinch from rapid rent growth in previous years, with average rent remaining higher than pre-pandemic levels.

    New York, San Jose, and Detroit are among the few major cities where the share of income used on both rent and buying a home is growing, making them less favorable to renters and buyers. Only one metro is moving towards becoming more buyer-friendly, while 18 have become more rent-favoring.