Renting Vs. Buying in New York City

If you’re living in NYC in 2026, you already know the deal:

Rent is VERY high, apartments move fast, and a lot of people in their 20s, 30s, and 40s are paying mortgage-level money every month… without building anything. 😕

So here’s the real question:

Should you keep renting — or start thinking about buying? 💰

Renting: The Reality

Renting can be great for flexibility.

But in NYC, renting also means:

• your rent can increase every year (expect 2%-8%)
• you can be forced to move (expensive!)
• you don’t build equity (womp, womp)

And after a few years, the math starts to sting.

A Real NYC Example (2026)

Let’s say you’re renting a 1-bedroom for $4,500/month.

That’s:

$54,000 per year in rent.

Over 3 years?

$162,000 paid… and you still don’t own anything.

Now compare that to buying.

Let’s say you buy a condo for $750,000.

Your monthly payment might be similar (or higher depending on rates and common charges) — but the difference is:

With buying, you’re paying into something you own!

You’re building equity over time instead of handing over rent forever.

Why Owning Can Be Better in NYC in 2026

Buying isn’t always cheaper month-to-month.

But it gives you:

• stability
• long-term control
• equity (aka wealth-building)
• protection from rent increases

Bottom Line

Renting is fine if you want flexibility.

But if you’re planning to stay in NYC for the next few years and you’re paying high rent…

Buying can be the move that finally gets you ahead. 😎 

Questions about buying that you want to explore?  Reach out to me at [email protected] and let’s start the conversation!