Rent is cheaper than buying a home in these California cities. See where

In some California cities, your monthly rent is likely to be less than a monthly mortgage payment on a home.

A LendingTree survey finds that renting costs less than buying in every large metropolitan area in the United States, including several in California.

“In fact, U.S. homeowners with a mortgage pay 36.9% more a month than renters,” the company said.

San Francisco has the largest cost gap, with a median rent of $2,435 and a median monthly mortgage payment of more than $4,000 — a $1,565 difference.

San Jose and Los Angeles also made the top 10 list.

Others among the top 10 include New York, Honolulu, Houston, Seattle, Providence, Boston and Bridgeport, Connecticut.

But Matt Schulz, LendingTree chief consumer finance analyst, said cost isn’t the only part of the equation when deciding to rent or buy.

“Homebuying can represent accomplishment, security, safety and plenty of other things,” Schulz said. “There’s a reason why homeownership has long been considered part of the American Dream. That said, owning can make financial sense depending on your goals.”

As a result, people are waiting longer to buy homes, Schulz said.

“Some people are even becoming resigned to the fact that they’ll never be able to own a home,” he said. “Unfortunately, however, that doesn’t seem likely to change anytime soon.”

LendingTree analyzed the U.S. Census Bureau 2024 and 2023 American Community Surveys with one-year estimates to determine the median costs to rent and own a home with a mortgage in the nation’s 100 largest metros.

What other California cities are on the list?

San Jose and Los Angeles joined San Francisco in the top 10, each with a more than $1,100 difference between renting and buying. San Diego came in the 11th spot with a $907 difference.

But Stockton beat out Sacramento for largest difference between renting and buying. The city nearly 45 miles south of the capitol was 14th on the list, with a difference of $846. LendingTree listed its median monthly mortgage at $2,634 and rent at $1,788.

Sacramento ranked No. 20, with a median rent of $1,904 and a median monthly mortgage of $2,674 — a $770 difference.

And Fresno came in at No. 32, with a median rent of $1,513 and a median monthly mortgage of $2,166 for a difference of $653.

Oxnard, Riverside and Bakersfield also ranked in the Top 100.

This story was originally published February 7, 2026 at 5:00 AM with the headline "Rent is cheaper than buying a home in these California cities. See where."