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:...