Renting can feel less expensive and a lot simpler than buying a home — especially right now. No repairs, no property taxes, no worrying about mortgage rates… you just pay the bill and move on.

But there’s one big catch: renting doesn’t build your financial future. Homeowners, on the other hand, grow their net worth simply by owning and staying in their homes.

If you’ve been wondering whether buying in Tampa Bay is still worth it, the long-term math is clearer than you might think.

Renting vs. Owning in Tampa Bay: What Really Builds Wealth

When you rent, your monthly payment goes straight to your landlord — and that money is gone. When you own, a portion of your payment comes back to you as equity (the wealth you build as your home’s value rises and your loan balance falls).

So even if renting feels more affordable in the short term, it comes with a serious long-term cost: you’re not building wealth.

First American recently analyzed the long-term impact of renting versus owning. They compared things like:

• Mortgage payments
• Property taxes and insurance
• Repairs and maintenance
• Equity gained through appreciation and pay-down

They ran those numbers across several different starting points: 2006 (housing bubble), 2015, 2019 (pre-pandemic), and 2022 (when rates jumped). In every case, two things were true:

• Renters lost money over time.
• Homeowners gained wealth.

The solid lines in the chart show buyers’ net worth growing the longer they own. The dashed line shows renters spending more over time without any long-term financial benefit. The takeaway is simple: time in a home builds wealth. Time renting doesn’t.

That’s true even after you factor in homeownership costs like taxes, insurance, and repairs. Across every time frame in the study, homeowners came out ahead.

Why Time in a Home Matters More Than Short-Term Conditions

In the short term, renting can sometimes feel like the easier (or cheaper) path. But the longer you own a home, the wider the wealth gap becomes between owners and renters.

That’s one reason homeowners in places like Carrollwood, Citrus Park, Westchase, and South Tampa tend to build significant equity over time — even if the market has ups and downs along the way.

Owning isn’t just about having a place to live. It’s about putting your monthly payment to work for your future self.

What Tampa Bay Buyers Should Know About Affordability Now

You might be thinking, “Okay, but buying still feels out of reach for me right now.” Fair.

The past few years haven’t been easy for buyers. But conditions are slowly shifting in the right direction:

• Mortgage rates have come down from their recent peaks.
• Home prices in many areas are stabilizing instead of surging.
• Incomes have been rising, helping monthly payments feel a bit more manageable.

According to recent data from Zillow, typical monthly payments have become slightly easier compared to this time last year. Not a dramatic change — but enough to matter for many Tampa Bay buyers who put their plans on pause.

No, buying isn’t suddenly “easy.” But it is easier than it was just a few months ago. And when you zoom out over years, not months, history still shows that homeownership is one of the most reliable paths to building wealth.

Bottom Line for Tampa Bay Renters Debating Homeownership

Renting may feel simpler and less stressful today, but it doesn’t build long-term wealth. Owning a home — and staying in it over time — is what moves the needle for your net worth.

With affordability starting to improve, the path to owning in Tampa Bay may be more realistic than you think.

If you’re curious what buying could look like for you — from monthly payments to neighborhoods — let’s connect and walk through your options, pressure-free.