🏡 Renting vs Owning in Raleigh: What You’re Really Paying For

By Phil Slezak, Raleigh Real Estate Advisor

If you’ve been renting in Raleigh for a while, chances are you’ve asked yourself: "Is it really worth buying right now?" With rent prices rising across the Triangle and mortgage rates still reasonable, the truth is — buying a home could cost you less each month than renting and help you build long-term wealth in the process.

Let’s take a closer look at what you’re actually paying for—and what you could be gaining—when you choose to own instead of rent.

📊 Let’s Talk Numbers: Raleigh Rent vs Mortgage

• Average rent in Raleigh (2024): $1,800–$2,300/month for a 3-bedroom home

• Average mortgage for a $350K home (5% down, 6.5% rate): ~$2,100/month (including taxes, insurance, PMI)

At first glance, those numbers might seem pretty close. But here’s the big difference:
👉 Rent pays your landlord’s mortgage.
👉 Mortgage pays your own equity.

🧱 What You’re Actually Paying for as a Renter

When you rent, your monthly payment is:

• Not building equity

• Subject to annual rent hikes

• Locked into someone else’s investment plan

• Offering zero tax advantages

• Gone once you move out

Essentially, renting is a short-term fix that comes with long-term costs. You're helping someone else build wealth—not yourself.

🏠 What You Gain When You Own

Buying a home—especially in a growing market like Raleigh—means every payment builds toward something:

• Equity: Every month you own more of your home.

• Appreciation: Raleigh homes have historically risen in value over time.

• Tax Deductions: Mortgage interest and property taxes can offer tax breaks.

• Fixed Costs: With a fixed-rate mortgage, your monthly payment stays stable.

• Control: Want to paint a wall or renovate the kitchen? No landlord approval needed.

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📍 Raleigh Is Still a Smart Buy

With strong job growth in tech, biotech, and healthcare, Raleigh continues to attract buyers from across the country. Home values in Wake County have appreciated significantly in the last decade—and while prices are higher than they used to be, they’re still a smart long-term investment.

Owning now means getting in before prices climb further—and starting to build wealth while others wait.

How Phil Slezak Real Estate Can Help You

At Phil Slezak Real Estate, brokered by LPT Realty, we do more than just help you find a home—we make sure your entire moving process is stress-free and seamless. Whether you’re buying, selling, investing, or relocating, we have the resources, expertise, and connections to guide you every step of the way.

Why Work With Us?

✔ Exclusive Off-Market Listings – Get access to homes before they hit the market.
✔ Zero-Commission Selling Options – Save thousands when selling your home.
✔ Relocation Assistance – We connect you with the best movers in Raleigh for a smooth transition.
✔ Buyer Home Guarantee – If your home isn’t perfect, we’ll sell it for zero listing commission.
✔ Sold Zero Commission – Maximize your profits with no listing commission when selling your home.
✔ Cash Offers – Get 4 cash offers on your home in minutes

Conclusion:

Renting might seem like the easier option, but long-term, it's costing you more than you think. In Raleigh’s booming market, owning a home isn't just about stability—it's about building real financial power. Every mortgage payment you make is an investment in your future, not your landlord’s. With options for low down payments and local loan programs, you may be closer to owning than you realize. Let’s talk about what’s possible and how we can turn rent into real wealth.

📲 Want expert advice on your next move?

📞 Call or text me at +19196074844 or connect with me on social media. I help people just like you every week make smart real estate decisions—let’s chat about yours!

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