Rent vs Buy in Montgomery County PA in 2026: The Honest Math
If you are renting in Montgomery County or Philadelphia right now, you might feel pulled in two directions. On one hand, you are watching rents go up and wondering if you are “throwing money away.” On the other, you are seeing headlines that say owning a home is significantly more expensive each month than renting in our region in 2026.
I am Shaina McAndrews, a Realtor and Team Leader with eXp Realty. I spend a lot of time helping renters decide if and when buying actually makes sense for them, with a focus on education and calm planning—not pressure.
The 2026 Reality: Renting vs Owning in Our Area
Right now in the Philadelphia metro, the monthly cost of owning is roughly 35 to 45 percent higher than renting on average, depending on the source, price point, and neighborhood. That gap means many people could technically qualify to buy, but the payment jump feels very real.
At the same time, rents have climbed significantly since 2020 but have started to stabilize, while home prices are still rising modestly. So the honest truth is that in 2026, renting is often cheaper in the short term, while buying can still make sense over the longer term if the numbers and your life line up.
The Honest Math: A Simple Example
Let us use simple, rounded numbers to make this feel real.
Imagine:
You are renting for about 1,800 to 2,000 per month in or near Montgomery County.
You are considering buying a home in the 350,000 range in a nearby suburb.
In 2026, with interest rates in the mid 6 percent range and typical local taxes and insurance, many buyers in that price range see monthly mortgage payments closer to 2,400 to 2,800 or more, depending on down payment and exact taxes.
So in this example, buying might add 500 to 800 or more to your monthly housing cost, plus the ongoing responsibility for maintenance and repairs. The question is not “Is buying always better.” The real question is “Does that extra cost make sense for your life, your stability, and your long term plans.”
When Renting Makes More Sense
There are seasons when renting is not a failure; it is a smart choice. Renting can make more sense if:
Your job situation, income, or location may change in the next one to three years.
You are working on paying down debt or building an emergency fund.
The payment difference between renting and owning would keep you up at night.
You are not sure where in the region you truly want to be yet.
In a market where buying often requires a meaningful jump in monthly cost, it is reasonable to stay put and focus on strengthening your financial foundation. That can mean saving for a stronger down payment, improving credit to get better terms, or taking your time to get clear on your ideal location.
When Buying Starts to Make Sense
Buying starts to make more sense when:
You have a stable income and expect to stay in the area for at least five to seven years.
You have enough saved for a realistic down payment, closing costs, and a small cushion.
The higher payment still leaves room for savings, emergencies, and some fun.
You are ready for the responsibility of maintenance and the upside of building equity over time.
Even in a market where owning is more expensive monthly, you are paying into something that belongs to you and potentially benefiting from modest appreciation over time. For many people, the decision is less about chasing perfect “investment math” and more about stability, roots, and having control over your space.
Lifestyle, Flexibility, and Stability
Beyond the numbers, there are real lifestyle differences between renting and owning.
Renting offers:
Flexibility to move with less friction if life changes.
Predictable responsibility: you call your landlord when things break.
Less pressure to plan long term around one address.
Owning offers:
Stability in your housing, especially if you lock in a fixed rate payment.
Freedom to personalize and improve your home over time.
A sense of rootedness in a neighborhood and community.
Neither path is morally “better.” The question is which one fits who you are and what you need right now.
“Should I Rent or Buy?” A Simple Filter
Here is a simple way to think about it.
You might lean toward renting if:
You are uncertain about your job, relationship, or location over the next few years.
You would need to stretch to an uncomfortable level to buy.
You do not yet have at least some savings beyond your down payment.
You might lean toward buying if:
You are clear you want to be in this area for a while.
You can handle the payment jump and still save.
You are ready for the responsibility and excited about the idea of a space that is truly yours.
If you are somewhere in the middle, that is where a calm, numbers based conversation can really help.
How I Help Renters Become Homeowners—Without Pressure
When I work with renters, my goal is not “How fast can we get you into a house.” It is “How can we help you make a decision that will still feel right years from now.” That might mean:
Looking at what you pay now versus what similar homes cost to own in your target areas.
Walking through the full cost breakdown: down payment, closing costs, and monthly payment.
Talking honestly about your timeline, your fears, and your “why” for considering buying.
Sometimes we discover that now is a good time to start planning to buy in six to eighteen months. Sometimes we realize you are closer than you think. And sometimes we decide together that renting is still the right call for now, with a plan to revisit later.
Want to Talk Through Your Rent vs Buy Decision?
If you are feeling torn and just want to talk to someone who will lay out the pros and cons clearly, I would be happy to sit down with you.
You can schedule a buyer consultation here:
https://calendly.com/agentshainamc/buyerconsult
Or, if you want something shorter and more exploratory, you can book a quick planning call here:
https://calendly.com/agentshainamc/quick-call
Whichever path you choose, you deserve a decision that feels honest, grounded, and right for your life—not just one that follows a slogan about “throwing away rent.”
