8% of Zillow Buyers Also Rent, Ownership Costs $415 Higher Than Rent
Zillow analysis shows 8% of homebuyers also browse rentals, led by Los Angeles (12%), San Diego (10.8%) and San Francisco (10.1%). Nationwide, monthly ownership costs average $415 above rent, surging to $3,438 in San Jose, while rental options average 284 sq ft smaller than for-sale homes.
1. Dual Shopping Trends
Zillow data shows about 8% of for-sale shoppers also browse rental listings, with the highest dual-shopping rates in Los Angeles (12%), San Diego (10.8%) and San Francisco (10.1%). This reflects a growing pool of consumers weighing both buying and renting options during their housing search.
2. Cost Differential Between Owning and Renting
Dual shoppers encounter an average monthly ownership premium of $415 after a 20% down payment, stretching to $3,438 in San Jose. In high-cost metros, renting cuts the income share for housing by roughly half compared with mortgage, tax, insurance and maintenance payments.
3. Consistent Home Preferences
Dual shoppers maintain consistent lifestyle needs, most frequently targeting three-bedroom homes in both markets. However, rental properties they consider average 284 square feet smaller, often offering higher value per square foot through newer finishes, updated amenities or more efficient layouts.
4. Regional Affordability Impacts
Affordability constraints drive higher dual-shopping shares in coastal markets, while more affordable regions like Hartford see only 4.2% of for-sale shoppers exploring rentals. This divergence underscores how price-to-income ratios and inventory affordability shape consumer decisions between leasing and buying.