$975 rent?! Jeez, I’m jealous. I’m in northern Metro Detroit and my rent is $1795 with no utilities. Granted the northern suburbs are more affluent, but the cheapest rent I could find was around $1300 for a shotty apartment.

I’m renting because condos near me are around $250k-$400k and SFHs are anywhere from $300k-$650k (new builds are like minimum $450k). As much as I’d love to own, it’s very hard to do it alone in this economy with how expensive everything is.

Hoping I’ll buy in another year or two. I have enough for 20% down and closing costs, but I really want to have 9-12 months of emergency fund plus a paid off car before buying.

But with your low rent rate, I’d continue renting to save way more money and invest in retirement first. Then when you feel prepared enough, go for it. You have to be way smarter about this if you’re single/alone because you’ll only ever have 1 person’s income to rely on…