If there is one thing I’ve learned after four decades in this market, it’s that the real gains are on the real estate game. I’ve spent years helping thousands of people buy, sell, and invest in Central Ohio. In today’s post, I’m diving into why owning a home today beats renting, hands down.
1. Rents Are Out of Control, But You Don’t Have To Pay That Game
Let’s talk about the rental market in Central Ohio—it’s hot, and I mean scorching. Over the past year, rent prices have soared, leaving tenants with less in their pockets each month and no assets to show for it. In fact, in the past year Central Ohio experienced one of the highest rates of rental increases in the US.
Landlords (including me) are cashing in, but that’s no reason you have to foot the bill without a return.
With inflation hitting hard and the rental market thriving, your rent check is a one-way ticket to someone else’s asset growth. Every month you pay rent, you’re boosting someone else’s investment while keeping your name off the ownership list. In the long term, that math doesn’t add up in your favor.
2. Mortgage Rates Are Stable, and You Can Lock Them In
I’ve heard all the objections. People see mortgage rates and think twice, maybe three times. But here’s the deal: mortgage rates may be up from their all-time lows, but they are lower than last year, and are stable and manageable. Current rates are down to the mid 6% range. More importantly, you can lock in a rate, which means you’re setting your monthly payments on autopilot, completely predictable.
Compare that with renting, where you’re at the mercy of the market every lease renewal. In Central Ohio, rents aren’t slowing down anytime soon. A fixed-rate mortgage keeps your monthly payments predictable and lets you plan, build equity, and control your future finances. That’s a move renters just can’t make.
3. Owning Is a Real Investment That Builds Long-Term Wealth
Let’s talk about appreciation. Central Ohio’s real estate market is booming for a reason—there’s demand, there’s growth, and we’re in a prime location. According to Rocket Mortgage, our prices are up 4.5% year over year. You buy a property now, and it’s like getting in early on an undervalued stock. Home values here have steadily climbed, and all the factors are pointing up for the foreseeable future.
Real estate in Central Ohio is more than a place to live; it’s a serious investment opportunity. Over the years, I’ve watched home values rise, even in times of uncertainty, because Central Ohio is a magnet for professionals, families, and investors alike. The key is getting in and letting time do its thing. You’re not just buying a home; you’re buying into an appreciating asset that could fund future investments, pay for your kids’ college, or launch the business you’ve always wanted.
4. Ohio’s Cost of Living Advantage: Put That Money to Work
Here’s the secret sauce. Central Ohio is one of the few metro areas in the U.S. where you still get solid bang for your buck. Compared to other metros, Central Ohio’s housing is affordable—meaning you can own here for what it costs to rent in many cities across the country. That advantage alone puts you in a better financial position to build wealth over time.
Imagine taking the difference in cost of living and putting it back into your home, into a renovation, or even into other investments. Homeownership isn’t just about a place to live—it’s about smart money decisions that pay you back over the years.
5. Renting Is Temporary; Buying Is Building Your Future
Buying a home isn’t just an expense; it’s an asset you control. Renting? That’s just treading water. You can’t remodel, renovate, or even paint the place without permission. And when the lease is up, you could be out the door, forced to find another rental in an ever-pricier market.
When you buy, you own the future. You’re making choices that give you freedom, equity, and a way to weather economic storms that renters simply don’t have. It’s the difference between watching the game and playing it—and I’m telling you, there’s no comparison.
Bottom Line: Get in the Game
If you’re on the fence about buying, let me give it to you straight: there’s no better time to get into Central Ohio real estate. The rent checks you’re sending aren’t going to grow your wealth, but your own mortgage payments will. Lock in a mortgage, ride the wave of Central Ohio’s appreciating market, and own a piece of one of the most stable, in-demand areas in the Midwest.
The rental market may be on fire, but the homeownership game is the one you want to be playing. Because when the dust settles, the people who own here won’t just have a place to live—they’ll have a foundation for wealth and security.
Ready to get in the game? Let’s make it happen.
For more information on renting versus buying, go here.
Kyle Alfriend has been active in real estate for over 35 years, assisting over 3,000 clients in buying, selling, and investing in real estate.
For more information on buying, selling, or investing, or for a personal consultation, contact Kyle Alfriend, (614) 395-1776, or info@AlfriendGroup.com Or go to our website, AlfriendGroup.com.