Moreover, renting long term comes with risks too. Rents can increase, sometimes dramatically. In many cities, including Los Angeles and San Francisco, rents have soared post-2008. If your salary does not keep up, you could eventually be priced out of a neighborhood where you’ve lived for many years and your children attend school. Currently, half of renters in the United States are paying more than the recommended 30 percent of income for their housing, leaving them on thin financial ice.
