Why is rent more expensive than owning?

Rent used to be cheap in the late 90s to early 2000s but now it's crazy. In Maryland the cheapest place is at least 1,100.00 for a safe neighborhood. And that's typically for a one master bedroom apartment with small kitchen and bathroom.

Your opinions please?

Other answer:

Demetrius:
landlords always need a fixed term of incomes form their assets in long term, only then it can be called a fixed asset… on a quick sale of asset even though profit is realized then and there but for real estates holding shall be the proper option for increasing the price of the property which shall be twice or thrice as that of the earlier…
Meenal:
it's really not… when you buy you have to also pay the mortgage payment, interest, property taxes, homeowners insurance, heat, gas, elelctric, water, sewer, trash, cable, internet, phone and maintenance… owning a home is very expensive…
babyboomer1001:
Rent is NOT more expensive than owning. The cost of maintaining our home is at least double to triple to what it would cost to rent it out.
Raymond L.:
um, not anywhere within 15 miles of downtown porltand Oregon,

pretty much any house that is not falling down is selling for over $220,000 in less than 2 days.

in order for your rent payments to be lower you MUST have a 20% down payment which including closing costs is around $48,000 for a 220,000 dollar house,

and Most Don't have that kind of cash, well around here.

God bless

lisaaa:
owning is more expensive. rent here for a good area is 450. I pay 450 plus only electric which 97. plus I only had to pay two months security to move in. the cons of owning are u are paying for everything all utilites, all taxes, the down payment everything. renting u don't need taxes or a 20,000 dollar down payment. im only paying 5,400 a year for my apartment. considering mortagages on houses are 2000 a month u are paying 24000 yearly. not to mention your stuck in a 25-30 years mortgage where as an apartment u are only stuck yearly. not to mention the landlord fixes things when they break. if u own you gotta do it all the plumbing, pipe repairs, all of it. so that statement about apartments being more that's a lie. if renting in your area is high, imagine what owning a house is gonna cost? at least triple the amount u pay for renting
loanmasterone:
The cost of living increase each year.

My very first, car a brand new Buick, cost $3,500 full price plus taxes.

The landlord would have expenses such as a mortgage, insurance, maintenance and other expenses that have greatly increased over the years.In determining the rent to charged.

The amount of rent charged would be determined by the area of the United States in which you reside. In the south and mid west United States rent is very affordable.

In your larger cities where demand is high and the cost to maintain a rental is also high, the rent might be extremely, high such as California, New York and Miami.

I hope this has been of some benefit to you, good luck.

"FIGHT ON"

tro:
everything was cheaper twenty years ago, your pay was also a lot less, this is the way the economy goes, wages go up, prices go up for things you need to buy
Judy:
The landlord has to buy the building. It's an investent, so he or she also has to make a profit.
Lolly:
That apt in my neighborhood would be $1600.
coraann:
Your info is totally wrong. Owning a house is far more expensive than renting.
Mortgage payment, property taxes, insurance, maintenance, utilities, cable,
internet and telephone. Each of these have yearly increases.
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