Is it more affordable to rent or buy a home?

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BAY COUNTY, Fla. (WJHG/WECP) - You might recognize his face from waving signs at busy intersections.

Local realtors are saying it can be more affordable to buy a house rather than pay rent, but for some, the cost is still too high. (WJHG/WECP)

"We're gonna keep spreading love," said Decarius Hunter.

In between his efforts to make locals happy, Hunter is working to find a new home for his family after Hurricane Michael, a problem many still face.

"We haven't really been having no luck finding anything that we can afford," sad Hunter.

Despite the higher cost of living since the storm, Beachy Beach real estate agent John Claunch tells us buying a home could save you money in the long run.

"If you look at what people are spending in rent versus what people are paying in a mortgage right now it still makes a lot more sense to own a home," says Claunch.

For example, Claunch tells us he had a client buy a home at Callaway Corners for around $189,000, with 10% down.

The home is a little more than 1,200 square feet with three bedrooms and two baths. The owner's monthly mortgage is around $1,000 a month, but his renter pays $1,350.

Claunch says, though, this scenario isn't for everyone, "You know sometimes it's better to rent depending on how their credit score is because the terms they'll get on a mortgage may not be the best option."

While it could pay off to put money down to buy a home, for some locals like Hunter, it's still not an affordable option.

"What you expect that you can afford or what you expect that someone would have that is comfortable for you and your family, "says Hunter, "that's way out the roof."

Hunter, his wife and his daughter live at his in-laws while they search for a home. But he believes the right home will come at the right time.

"As long as we keep loving and we gonna keep spreading love, and like I said we just gonna pray about it and let God work it out from there," said Hunter.

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