Rent vs Buy Reports

Stephen FitzMaurice, Realtor writes annual reports on whether it is a financial advantage to rent in the greater Portland metro or buy, and if you buy a home, how long you have to hold onto it to get that financial advantage. Whenever you’re ready to buy a home, Stephen’s partner and buyer’s specialist Kami Price, licensed since 2004, is ready to assist you in any market.

If you’re considering buying a home in the next twelve months, Kami Price, buyers specialist would love to hear what you’re looking for. Call today to set an appointment.

Kami Price, Realtor
Represented Hundreds of Buyers
Licensed since 2004

Rent vs. Buy a Home in Portland, Oregon? A Financial Calculation 2023

March 13, 2023

In their 2022 Housing Survey, NeighborWorks America found that nearly nine in ten Americans agree that homeownership is important, and many see both increased feelings of security and connection to their community as significant benefits of owning a home. In reality, being a homeowner extends beyond the property itself to a sense of ownership and shared responsibility in the neighborhood, which leads to more involvement in the community and reduced crime, among other benefits. While owning a home is rewarding, there are times when renting may be a better fit. We’ll explore the options for each in light of the current housing market. Factors to Consider When Deciding to Rent or Buy The first and most obvious consideration is finances:...

Portland Rent vs. Buy a Home – 2022 Statistics

January 21, 2022

Homeownership makes people happy. No really. Study after study shows that homeownership positively effects a person’s life in more ways than financial security. The below is a report from NATIONAL ASSOCIATION OF REALTORS® research division, article, “Social Benefits of Homeownership and Stable Housing.” Rohe and Stegman found that low-income people who recently became homeowners reportedhigher life satisfaction, higher self-esteem, and higher perceived control over their lives. 26But the authors cautioned on the interpretation of the causation since residential stability was notcontrolled for. Similarly, Rossi and Weber concluded that homeowners report higher self-esteemand happiness than renters. 27 For example, homeowners are more likely to believe that they cando things as well as anyone else, and they report higher self ratings on...

rent vs buy a home portland real estate market

Rent vs. Buy a Portland Home in 2021

January 25, 2021

Potential first-time home buyers in 2021 have some tough decisions to make. Buying is always seen as more financially advantageous than renting, because the value of your investment will go up over time. After accumulating some funds for a down payment (and some roommate horror stories), most renters will attempt to buy a home in an area where they plan to stay for 6-10 years.  But is 2021 the year to do it? Initially you might think “no” when you consider that prices for Portland homes have climbed 7% over the past year, and a median-priced home is selling for close to half a million dollars as of January 2021 (according to the RMLS and Zillow). You’re better off buying...

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Rent vs. Buy a Home in Portland – 2019 Update

August 12, 2019

The biggest question we get from a potential first time home buyer is: Which is more affordable, renting or buying a home in Portland?  Affordability is a multi-tiered puzzle. Potential Portland home buyers aren’t just impacted by their own finances — mortgage rates, property tax rates, home maintenance costs, and potential lifestyle changes brought on by the move (for example, being able to go down to one car and take public transit) all play a part.  Still, if you suspect that you’re paying more in rent than you would for a mortgage in a similar or better home, the first thing you’ll want to look at is what the total cost is for a home in Portland. In other words,...

rent vs buyer portland housing market

Rent vs Buy, Portland Real Estate Market – 2019

January 11, 2019

According to Zillow research, rents fell nationwide this year for the first time in six years. Portland led the way with the biggest decline over last year: 2.7% What does this mean for renters who are considering purchasing a home in 2019? To find out, let’s put that number in context. Just three years ago, home ownership statewide was the lowest it had been in decades. As a result of increased demand, rents skyrocketed in Portland by 7.2%. It’s hard to believe in that so short a time, we’ve actually reversed course to see a decline in average rent by nearly three percent. First of all, the free market did its work: As rents climbed, homeownership became more attractive. More...

buy home for college portland

Rent vs Buy in Portland, College Edition

June 9, 2017

Portland is home to a lot of great colleges — Portland Community College, Reed, Lewis and Clark, University of Portland, Concordia, Warner Pacific – to name just a few. Students from across the country will be moving to Portland this fall, and if you’re looking at this Portland real estate blog, chances are you’re a parent wondering if it makes sense to buy a home, condo, or townhome for them to live in. You probably already know that Portland is a great city to invest in, and that the rental market is tough. If you have the financial ability to help your child, you may be thinking — why not buy and save my student the hassle of renting while...

own a home in Portland

In Portland, Buying a Home is Cheaper Than Renting

April 13, 2012

Max Radi and his partner Seth are not your typical homeowners. As recent college graduates with entry-level jobs, they were just looking for a decent place to rent near downtown Portland one year ago. “Then we started thinking about how we could get a decent return on our investment,” Max says. He looked at the numbers and realized that the cost was about the same to rent as to buy a condo in downtown Portland. “When you’re renting, that’s money you’re losing,” he says. When the two expanded their home buying search to condos outside the downtown neighborhood, the options were greater and the savings even more substantial. Seth had no credit, but Max’s credit was good enough to qualify...