Make money work for you!

  • Home
  • Personal Finance
  • Budgeting
  • Shopping
  • Taxes

9 US Cities Where Buying a Home Is Cheaper Than Renting

July 14, 2023 · Budgeting
memphis
Photo by Sean Pavone from Shutterstock

1. Memphis, Tenn.

Memphis is one of the best places to buy a home in the US. In fact, homebuyers in this city can save hundreds of dollars every month over renters. According to financial experts, this applies even with sale prices surging.

In Memphis, the median monthly cost for first-time homebuyers is only $847. On the other hand, the median monthly rent is $1,258. That’s almost $400 more, which is a lot.

Joe Spake is a broker in Memphis, and according to him, new apartments in Memphis rent for a hefty amount of money. If you’re looking for a new place to rent, expect to pay $1,600 in monthly rent for a two-bedroom apartment.

A person walks a dog past a classic brick row house in a quiet Pittsburgh neighborhood during golden hour.
A man walks his dog past a brick house for sale in a leafy Pittsburgh neighborhood.

2. Pittsburgh

Pittsburg is also among the best places to buy a home. Home seekers will save about $350 per month by buying a starter house in this city rather than renting one, according to financial analysts. The median monthly rent is $1,445, while a mortgage is about $1,097.

This city in the Rust Belt experienced substantial outmigration after the steel industry went back in the late 20th century, which resulted in overall real estate stagnation. However, unlike some other urban metro areas, this one has seen a revitalization and gentrification of its downtown.

So now Pittsburgh is one of the best places to buy a home in the US.

Pages: 1 2 3 4 5 6 7 8

Share this article

Facebook Twitter Pinterest LinkedIn Email

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

Latest Posts

  • A retired couple sits at a sunny kitchen table, thoughtfully reviewing financial papers together with coffee mugs nearby. Married and Retiring? Here's How to Claim Thousands More in Social Security Benefits
  • An ink and watercolor illustration of a balance scale weighing a glass tip jar against a document labeled federal programs. Here's Who Won and Lost Under Trump’s "Big, Beautiful Bill" (Where Do You Stand?)
  • Split-screen watercolor illustration showing an older man in a library with a $5,181 check and an older woman in a kitchen with a $2,076 che Morgan Freeman vs. the Average American: Who Gets More in Social Security?
  • An editorial illustration of a person guided through a bank-wall maze away from a basic account door toward a premium fee-paying door. These Banks Are Accused of Pushing Customers Away From Basic Accounts
  • An ink and watercolor illustration of an older couple entering a cozy, sunlit neighborhood diner. The SNAP Restaurant Meals Program: Which States Allow Seniors to Use Benefits at Restaurants
  • A mid-century gouache illustration of a relaxed retired man sitting in a lounge chair with a tablet, balancing work and leisure. 12 Stress-Free Jobs for Retirees With High-Salaries
  • A retired couple relaxing on a stone terrace overlooking a Mediterranean coastal village during sunset, captured in warm film photography. The 30 Best Countries to Spend Your Retirement In – Which One Is Your Favorite?
  • An active retiree in his late 60s working part-time at a sunlit plant nursery greenhouse, watering green seedlings. The Part-Time Jobs With a 401(k) Match That Most Retirees Don't Know Exist
  • A woman sits on a moving box in her urban apartment, looking at a laptop showing scenic mountain relocation programs. These US Towns Will Pay You to Move There
  • An editorial illustration of a mailbox with a Social Security check inside, having a 32% slice snipped off by scissors labeled Medicare. Medicare Part B Ate 32% of Last Year's COLA. Will It Happen Again in 2027?

Newsletter

Get money-saving tips and personal finance advice delivered to your inbox.

Related Articles

kitchen renovation tip

Kitchen Renovation Tips: 6 Ways to Save Money

Refresh your kitchen with sage green paint while keeping your renovation budget and savings fund…

Read More →
Easter on a budget

Celebrate Easter on a Budget with These 8 Hacks!

Brighten your Easter table with affordable DIY cardboard bunny garlands, fresh wildflowers, and a carton…

Read More →
An older woman sits thoughtfully at her kitchen table looking at a paper bill in warm afternoon light.

What a Smaller COLA Could Mean for Your Budget

Learn how to adjust your retirement budget, navigate taxes, and handle rising Medicare costs following…

Read More →
checked baggage recession

Tired of Checked Bag Fees? These 6 Hacks May Help

4. Choose a Travel Card That Offers an Airline Fee Credit Having an airline credit…

Read More →
traveling on a budget

Traveling on a Budget This Season? 8 Tips and Tricks for Beginners

Look into carpooling services If you’re planning on traveling on a budget, carpooling services are…

Read More →
internet bill

High Internet Bill? 8 Easy Ways to Lower it

A man relaxes on his sofa with a tablet, discovering how easy it is to…

Read More →
best beach towns for retired homebuyers

4 Best Beach Towns for Retired Homebuyers

Mississippi: Gautier If you are a wildlife and nature lover, then we have to get…

Read More →
restaurant

You Can Spend Less at Restaurants With These 10 Tips

5. Follow them on social media As you already know by now, everyone has upped…

Read More →
thanksgiving

9 Best Tips to Spend Thanksgiving on a Budget

4.  Buy more canned foods Of course, fresh is better, but sometimes it can be…

Read More →
The Money Place

Make money work for you!

Inedit Agency S.R.L.
Bucharest, Romania

contact@ineditagency.com

Trust & Legal

  • Subscribe
  • Unsubscribe
  • Newsletter
  • Terms and Conditions
  • Do not sell my personal information
  • Privacy Policy
  • Contact
  • Request to Know
  • Request to Delete
  • CA Private Policy

Categories

  • Budgeting
  • Personal Finance
  • Shopping
  • Taxes

© 2026 The Money Place. All rights reserved.