Buying vs. Renting in 2026

Buying a home with today’s mortgage rates and home prices might seem a bit intimidating for Front Range homebuyers. But if you’re ready and able, now is a smarter move to get started rather than continuing to rent.

#1 Home Values Historically Increase

One thing is guaranteed in real estate: home prices will always go up. Property values have steadily climbed over the past 60 years (except for the 2008 housing crash and 2023 post-Federal Reserve interest rate reset).

Average Home Price Nationwide

1963 = $19,600 (in 2026, that sum would be worth $214,646)

2026 = $436,523

Colorado Average Home Price for Single-Family Properties

2019 = $467,000    

2022 = $648,327

2025 = $650,120

“Homeownership is critical for wealth building and financial stability.” – The Urban Institute

Read: Front Range First-Time Homebuyers Need to Know THIS

#2 Rent Will Keep Rising Over Time

According to ApartmentList.com, rents continue to climb every month this year. Right now, it may only be by a few dollars every month, but it certainly adds up. And you feel the pinch every time you renew your lease or sign a new one. Rent has also consistently grown for the last 60.

Median Monthly Rent Nationwide

1963 = $89/month (in 2025, that would be worth $974.70)

2025 = $1,689/month

Colorado Median Rent Price

2025 = $1,780/month

Read: First Time Homebuyer’s Biggest Regrets

You don’t have control over your rental payment as your landlord determines it. One of the many benefits of homeownership is that you set the payment at purchase. Buying a home with a fixed-rate mortgage stabilizes your housing costs, and when rates drop, you can refinance and reduce your monthly payments.

“If a homebuyer is financially stable, able to manage monthly mortgage costs, and can handle the associated household maintenance expenses, then it makes sense to purchase a home.”

– Dr. Jessica Lautz, Deputy Chief Economist and VP of Research at the National Association of Realtors (NAR)

Talk with your RE/MAX Alliance agent to explore your options and how first-time homebuyers are purchasing in our current market. They’ll also provide excellent recommendations to lenders specializing in first-time homebuyers and are well-versed in the cost-reducing programs you may qualify for.

Source: biggerpockets.com, KCM, Colorado Assoc. of Realtors®, Realtor.com