Nearly 1 in 10 home shoppers open to renting or buying 

Most consumers looking for their next home know whether they're going to rent or buy. But some could go either way — and their decision largely depends on where they live and the affordability conditions in that area.

Enter the 'dual shopper': According to a new study from Zillow, about 8% of the platform's home shoppers explore for-sale and for-rent listings simultaneously. These "dual shoppers" tend to look at options with the same number of bedrooms, with most favoring 3-bedroom homes.

The study analyzed users who engaged with listings by saving or sharing a home, as well as the characteristics of those listings. It also estimated monthly homeownership costs by factoring in list price — assuming a 20% down payment — and adding mortgage payments, taxes, insurance and maintenance. Those totals were compared to rental costs for properties viewed by the same users.

Sacrificing space: When comparing rentals and for-sale listings, the study found that consumers tend to look at properties with similar features to see how the costs shake out.

The monthly cost of owning the types of properties that dual shoppers weigh is usually about $415 more than renting, the study found. But in high-cost cities, extra homeownership expenses can balloon to thousands of dollars more, Zillow noted.

Although dual shoppers compare similar types of homes, they do seem willing to compromise on space, with the study finding that the rentals they consider are about 284 square feet smaller. Still, these rentals are typically more expensive per square foot than the for-sale listings they review — a likely indicator that the rentals have better layouts or more premium features or amenities.

Mapping out the trend: Dual shoppers tend to proliferate in markets where affordability concerns have created a significant owning versus renting divide.

California's priciest metros lead the country in dual shoppers, according to Zillow's data. In Los Angeles, 12% of shoppers eye both rentals and for-sale properties. The share drops slightly to 10.8% in San Diego and 10.1% in San Francisco.

The median household in these three metros would need to spend about two-thirds of its income on a monthly mortgage payment, the report noted. But individuals who opt to rent instead only spend about one-third of their income on housing expenses.

How hot rental markets fit in: San Francisco Peninsula-North Bay, Silicon Valley and San Diego all ranked among the top 10 trending rental markets for early 2026, according to a RentCafe.com study drawing on Yardi data.

San Francisco's rental competitiveness index has climbed 6.1 points from last year, largely due to the area's growing artificial intelligence sector. Compared to early 2025, one additional prospective renter is now competing for each vacant apartment, the study noted, while the share of new units available has dropped from 0.33% to 0.15%.

Silicon Valley renters face similar market factors, with more existing renters opting to renew their leases, new AI workers moving into the area and fewer apartments being built.

The highs and lows: New York City has an unusually high proportion of dual shoppers. According to data from StreetEasy, the share of home shoppers who consider both rental and for-sale listings is 29.9% — about 3.8 times the national rate and 4 times that of the greater New York metro area. Though high, this rate isn't entirely surprising given the high proportion of New Yorkers who opt to rent instead of buy (about 70%) and the area's high home prices.

However, shopping simultaneously for for-rent and for-sale listings is less common in metros that are more affordable and have more inventory. Hartford, Connecticut, is home to the lowest share of dual shoppers at just 4.2%, Zillow's report found.