Here’s how much more it costs to buy a home vs. renting in Orlando and beyond

ORLANDO, Fla. — Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.

A new study by Bankrate makes the case that it is not a matter of whether it is more expensive to buy a home than it is to rent — but rather how much more expensive it is to buy than it is to rent in a particular city.

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The report shows the typical monthly mortgage payment is higher than the typical monthly rent payment in all 50 of the largest markets in the U.S. On average, it says, there is a 36.6% difference across the U.S. between the typical mortgage payment of $2,703 on a median-priced home and the typical rent payment of $1,979.

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Bankrate based its typical payments on data from Redfin and Zillow from February 2024, further factoring estimates for renters’ insurance into its typical monthly rent figures, as well as estimates for property taxes and homeowners’ insurance for the typical monthly mortgage figures.

Click here to read the full story on the Orlando Business Journal’s website.

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