Deidre Pfeifer

Real Estate Agent, California

  • Home
  • About Deidre
  • Blog
  • Resources
    • First Time Home Buyer Tips
    • First Time Home Seller Tips
  • View Listings
  • Reviews
    • Deidre on Zillow
    • Leave a Review
  • Contact Deidre
You are here: Home / Archives for Rental Property

Most Renters Are Paying Far More Than Their Landlord’s Mortgage

March 13, 2020 by Deidre Pfeifer

Most Renters Are Paying Far More Than Their Landlord's MortgageIn the overwhelming majority of the 50 largest cities across the U.S., monthly rent is more than the mortgage payment for single-family homes. In several cases, much more. 

Global answering service and chat support company Moneypenny compiled data from Zillow on median rent and mortgage payments from July 2014-July 2019.

In order to calculate the monthly mortgage payments, Moneypenny took the median home sale prices during the same time period and in the same major cities and then used nationally-average mortgage terms: 30-year fixed rate at 4% with approximately 6% down. 

Once the two figures — median monthly rent and median monthly mortgage — were calculated for each city, they were compared side-by-side. The data may surprise you. 

From Less Than Half To More Than Triple

In just seven of the 50 cities analyzed, tenants pay less rent than the owner’s mortgage payment each month. In 28 of the cities — well over half, tenants are paying more than 150% of their home’s mortgage. The city with the highest rent-to-mortgage ratio, Miami, shows that renters pay more than 300% of their landlord’s monthly mortgage payment on average.

Rounding out the top five are New York (276%); Riverside, California (231%); Boston (230%); and San Diego (221%). At the opposite end of the spectrum is New Orleans, where tenants pay just 49% of their home’s mortgage each month, followed by Richmond, Virginia (57%), and Kansas City, Missouri (82%). 

An interesting data point is that the median monthly mortgage payment in Miami is $720, while in New Orleans it’s $2,857. 

Not-Necessarily-For-Profit

While it makes perfect sense that rent prices in hot real estate markets are higher, some may still be surprised by the disparity between rental amounts and monthly mortgage payments. However, it’s important to note that even in the cities with the biggest gap, landlords are not necessarily pocketing the excess and enjoying a nice profit. While it’s certainly possible that they may be, homeowners are more likely putting some of that money back into the house in the form of improvements and maintenance, as well as setting some of it aside for large emergency repairs. 

If you are in the market for a new home or interested in listing your current property, be sure to contact your trusted real estate professional.

Filed Under: Mortgage Tagged With: Market Conditions, Mortgage, Rental Property

Next Page »

Deidre Pfeifer

Contact Deidre


Call Today! 909.230.8181
Email: deeagent4u@gmail.com

DRE/BRE#: 01456203
Located in Rancho Cucamonga, CA

How can I help?


0 / 180

Let’s Stay Connected!

Recent Articles

  • Tips to Discover Off Market Properties Before Everyone Else
  • What’s Ahead For Mortgage Rates This Week – June 30th, 2025
  • NeighborWorks America and Building Stronger Communities Continues During National Homeownership Month
  • How Habitat for Humanity Supports Homeownership By Building Hope and Homes

Equal Housing opp

Our Location


8311 HAVEN AVE STE 180
Rancho Cucamonga, CA 91730

Copyright © 2025 · Powered by MySMARTblog

Copyright © 2025 · Genesis Sample Theme on Genesis Framework · WordPress · Log in