Housing Watch: Should you rent or buy in Fresno?

FRESNO, Calif. (KFSN) -- The gap is growing.

Data from the rental search platform Apartment List showed Fresno homeowners on average pay $3,071 a month, while renters pay $1,796 a month.

The homeownership premium, or difference, is 71%, which amounts to $1,275 a month.

"In Fresno specifically, that gap is actually wider than what we see nationally, those monthly costs," says Apartment List Chief Economist Chris Salviati.

While Fresno's homeownership rate is 71%, the US average is 64%.

The survey involved the 100 biggest cities in America.

Salviati noted the numbers have spiked since 2010.

"In terms of the percentage gap, Fresno is kind of middle of the pack, about it ranks number 55 out of those 100," he said. "Pretty much right in the middle there, but that percentage is a bit higher than the overall national average."

Nationally, and here in the Valley, we have watched that gap widen over time.

"I think it really does put kind of a sharp lens on how difficult it has become for many households to attain home ownership," Salviati said.

Homeownership costs in the survey included the mortgage, insurance and property tax.

"But Fresno, you know, even though it is kind of one of the more affordable markets in California among the big markets, it is still an expensive market nationally," Salviati said.

Outside of California, some of the cities seeing the largest gap between renter and homeowner payment included Seattle and Houston, but also Provo, Utah, and Wichita, Kansas.

For news updates, follow Dale Yurong on Facebook and Twitter.