Many renters would be better off buying a home than continuing to pay steep rental costs, according to a new study by RealtyTrac. Its Residential Rental Property Analysis found that the monthly payment on a median-priced home is more affordable than the monthly fair market rent on a three-bedroom property in 76 percent of U.S. counties.

Of the 461 counties analyzed, 351 had house payments on a median-priced home in the first quarter of this year that were lower than fair market rents on a three-bedroom home. Click here to learn more.