Buying vs Renting Breakdown | Raleigh News

Buying a home today? It’s a marathon, not a sprint. For median earners, it takes about 14 years to save for a 20% down payment and break even compared to renting—8.5 years to save, then 6 to profit. But geography matters: in Miami, you’ll save longer but break even twice as fast; in starter-home markets, the whole process can shrink to under 7 years. Yet, fixer-uppers are harder to find and cheaper, meaning repair costs add up. The bigger issue? A nationwide shortage of nearly 5 million homes since the pandemic, pushing break-even times in places like LA toward 40 years. Experts say fixing this requires smarter zoning, easier permits, and better financing—because housing affordability isn’t just personal—it’s systemic.

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