To Buy or To Rent in 2025? What Rising Prices Are Actually Suggesting

Renting on Long Island in 2025? Bravo, friend—you’re paying a mortgage—but it isn’t yours. With housing prices staying high and rent prices doing Olympic-level dashes, more people are wondering the same burning question: **Is it still better to rent, or is it finally time to get into real ownership?** Here’s the cold, hard, calculating reality of what the statistics are actually revealing (and what your landlord certainly won’t be telling you).

Rents Continue to Rise—and So Do Regrets

Rents are squeezing renters more than ever before in 2025. The latest regional housing statistics show rents in Suffolk and Nassau counties are rising by an astonishing 6.5% compared to last year. If you're in places like Huntington, Rockville Centre, or Patchogue, chances are you're paying more than $3,000 a month for a dwelling that's graciously termed "charming" (read: no parking, squeaky floors, and a sink that's looked better by several decades). That money? Forget about it—you'll never get it back—no equity, no dividend, just a monthly reminder that your landlord's mortgage repayments are doing fantastically well.

Buying isn't cheap—But it's ownership, baby

Yes, mortgage rates are at about 6.5%, and yes, prices are not declining as we'd like. But this catch: monthly payments on many entry-level homes on Long Island are **on a par with rent**. The difference: You're actually building equity. Appreciation, tax advantages, and the freedom to redo your kitchen without having to ask permission. Co-buying, townhouses, and longer-commute locations like Selden and Brentwood are increasingly popular among first-timers because while high, wise finance still trumps a year more of rent increases.

Flexibility vs. Future Financial

Flexibility, yeah. Move when you please, and let someone else repair the roof, and don't get tied down (we hear you). But with zero return on your money. And come on, landlords aren't exactly giving loyalty rewards to long-term renters. Homeownership creates wealth—period. With the median Long Island home price projected to jump 3–5% this year, your mortgage each month isn't just a cost—it's your money, your growth, and your avenue to build something greater than a Yelp page about your amazingness.

Market Forecast: Discount Now Means Stability

The 2025 marketplace isn't giving us blowout bargains, nor is it going into a tailspin. We're experiencing price stability in the $450K–$650K bracket and small increases in inventory, especially in western Suffolk and eastern Nassau. The mortgage rates are going to stay relatively flat (assuming no shocking surprise from the Fed), so no earth-shattering changes, yet no more excuses either. On the other hand, rent keeps rising with no apparent terminus in sight. Translation? The longer you rent, the more costly buying becomes down the road.

Millennials & Gen Z: Purchasing Is No Longer a Dream

Millennials are reaching their prime buying age, and Gen Z will follow close behind. Some are bypassing the rent stage completely, courtesy of remote working, variable incomes, and yes—some savvy parental assistance. Farmingdale, West Hempstead, and Bay Shore are attracting robust millennial interest with affordability, reasonable transit options, and space to accommodate a home workspace that's not also used as your laundry room.

Renting vs. Building Equity: The Figures Don't Lie

Let's make a quick calculation: $3,200 in rent each month for five years? That's $192,000. Gone. Invest the same amount in a mortgage, and even with interest, you're building equity, deducting taxes, and probably surfing the real estate appreciation wave. With ownership, you don't only get a roof over your head—you get leverage.

Tax Perks You Don't Want to Sleep On

Long Island property owners can access generous mortgage interest, property tax, and even energy-saving upgrades credits. Come 2025, with prices on everything going through the roof, these are more valuable than ever. The return on your taxes could mean the difference between barely getting by and keeping your money in your wallet. Okay, renters. enjoy watching your refund shrink as your rent continues to increase. 

Still Renting? Let's Change That.

If you’re tired of writing rent checks with nothing to show for it, it might be time to start thinking differently. Whether you're buying your first place, exploring investment opportunities, or just curious if ownership is even possible for you right now—I'm here to give you real answers, not a sales pitch.

📞 Call or text Dean Miller at (516) 527-9549
📧 Email: dean@deanmillerrealestate.com
💬 Or send a DM—whatever works for you.

Let’s run the numbers, explore your options, and build a plan that actually makes sense for your life. The longer you wait, the more you're spending on someone else’s future. Let’s invest in yours.