Housing prices have gotten so out of hand in most parts of the country that many people are better off just renting.
Meanwhile, rental prices are staying steady.
From 2013 to 2017 the national median rent only went up about $200, according to data from Trulia. From 2016 to 2017, it actually dipped about $60.
"While it's still a better deal to buy, the economic benefit has narrowed to the point that in some places, for some households, the decision to rent or buy a home may be too close to call," said Trulia economist Cheryl Young.
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To find out which option is better for you, run some numbers through a couple of online calculators specifically designed to help you determine if you should buy or rent.
If it turns out that renting is the direction you want to go, there are some things to keep in mind before you start packing your stuff.
If you can't afford to buy a home right now or just don't want to, there's no shame in your rental game.
Lisa McGreevy is a staff writer at The Penny Hoarder. She doesn't mind being a homeowner but loved renting so mowing the lawn was someone else's problem.
This article originally appeared on The Penny Hoarder.
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