MASON, Mich — The decision to rent or buy a home is one many people and families face — and right now, more mid-Michigan residents are choosing to rent.
WATCH BELOW: Renting vs. buying: Why more Mid-Michigan residents are choosing to rent
Sharla Horton is one of them. As a single mother of three, she says the financial difference is hard to ignore.
"I mean a twelve-hundred-dollar rent payment or a twenty-five-hundred-dollar mortgage payment?"
For Horton, renting also eases the pressures of daily life.
"I'm a single mom of three so for me it takes a huge burden off my day to day."
She points to the added costs that come with homeownership as another reason renting makes sense for her situation.
"You're not responsible for the appliances, the HVAC system, plumbing, sometimes lawn maintenance, that's all included sometimes."
Amy Kruizinga at Vision Real Estate says the trend is clear in the area — more people are renting rather than buying.
"Or sticking with the rental because inventory is so low, especially for the greater Lansing area."
Kruizinga says the limited supply of available homes is compounding the issue.
"Prices have increased steadily."
According to Zillow, the average list price of a home in Ingham County is $181,000. However, in various communities within the county, the actual average home value can be much higher.
Still, Kruizinga says the right choice depends on the individual situation, and buying does come with its own advantages.
"In terms of buying a house though, it's yours. You're building equity, it's an investment."
For now, Horton says she is not planning to buy unless the right opportunity comes along at the right price — but she hasn't given up on the idea entirely.
"Just because I want my own, eventually. You know I want to be able to paint the wall red if I want to."
This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
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