Rent vs. buy in the PNW when rates aren’t 3% anymore.

"With rates where they are, isn't it smarter to just keep renting?" It's one of the most honest questions I get — and the honest answer is: sometimes. It depends on more than the monthly payment. Here's how I'd think it through.

Compare the right numbers

People compare today's rent to a mortgage payment and stop there. But a fair comparison includes:

• Rent's trajectory — your rent likely rises most years. A fixed mortgage payment doesn't.
• Principal — part of each mortgage payment pays you back as equity, not your landlord.
• Tax and ownership costs — taxes, insurance, and upkeep are real and belong in the math.

The "date the rate" idea

Here's a frame that helps: you marry the home and date the rate. The home is the long-term decision; the rate is not necessarily permanent. If rates ease down the road, refinancing is an option — but you can't refinance a home you never bought, and you can't get back the years of rent.

That's not a push to buy at any cost. It's a reminder that "wait for a better rate" has its own price tag.

When renting is the right call

Sometimes it genuinely is. If you might move within a year or two, if your income is about to change, or if buying would leave you with no cushion, renting can be the smart, responsible choice. I'll tell you that honestly — I'd rather you buy at the right time than the wrong one.

The question isn't "rent or buy?" It's "what makes sense for the next chapter of your life?"

If you want to see the comparison in real numbers — your rent vs. a realistic payment with the programs you'd qualify for — that's exactly what I do. No pressure either way.