Feb 10, 2026 - Real Estate
Renting is cheaper than owning a home in the Seattle area
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For renters in the Seattle metro area who feel shut out of homeownership, there's at least one small upside for now: Renting here costs about $900 less per month than owning, a new analysis finds.
The big picture: Seattle reflects a national pattern: Renting is cheaper than owning in all of the 100 largest U.S. metro areas, according to a LendingTree analysis of the latest available census data.
By the numbers: The median Seattle-area rent in 2024 was $2,050 per month, while owning a mortgaged home cost $2,989 a month, per the analysis.
- High housing prices and elevated mortgage rates are among the factors driving the cost differences.
The savings come with a tradeoff, though: Renting doesn't build equity, making it harder to grow wealth over time.