Why Nurses Should Rethink Buying a Home in 2024

Sup Nurses,

Let’s talk about something that could completely shift how you think about your finances: renting vs. buying. As nurses, many of us work long, stressful hours while trying to make ends meet. If you’re looking to build wealth and secure financial freedom, this insight might be exactly what you need.

🏠 Why Renting Is Beating Buying Right Now

A recent Bankrate.com article revealed that renting is cheaper than buying in EVERY major U.S. city right now. For nurses, this is a big deal. Smart financial decisions can mean more savings, less stress, and a chance to focus on what really matters.

📊 The Numbers Don’t Lie

On average, renting is 37% cheaper than buying across the 50 largest metro areas. Here’s the breakdown:

• Typical U.S. Mortgage Payment: $2,703/month

• Typical Rent: $1,979/month

• Average Monthly Savings: $724

💸 Biggest Gaps Between Renting and Buying

These cities have the largest differences between renting and buying:

🏡 Smallest Gaps Between Renting and Buying

On the other hand, these cities have the smallest cost differences, where buying might make more sense:

💰 What Renting Can Save You

Here’s what you could save each month by renting in cities with the largest gaps:

• San Francisco: $5,462

• San Jose: $5,284

• Seattle: $2,739

• Salt Lake City: $1,488

• Austin: $1,516

Imagine what you could do with that extra cash each month—invest, start a business, pay off debt, or simply breathe a little easier.

🔍 Why Monica and I Are Selling Our Home

Monica and I have decided to sell our house when we move to New York in 2026. Here’s why renting makes more sense for us:

• Financial Freedom: Renting will save us a huge amount each month, freeing up funds for other goals.

• Lower Costs: Owning comes with major expenses—maintenance, property taxes, repairs—that we can avoid by renting.

• Relocation Flexibility: Renting allows us to move easily without the stress of selling a home.

🌟 Northern California: A Golden Opportunity for Nurses

For nurses considering Northern California, the numbers are in your favor. Nurses here earn some of the highest wages in the U.S., and renting lets you keep more of your hard-earned money.

🏦 Financial Breakdown: Renting vs. Buying in Northern California

💡 Key Takeaways

• High Salaries: Nurses in Northern California earn some of the highest pay in the nation, with median salaries ranging from $134k to $175k—and many make even more.

• Renting Saves Big: In cities like San Francisco and San Jose, renting leaves you with thousands more annually compared to owning.

📈 What to Do With Your Savings

Here are a few smarter ways to use the money you save by renting:

• Max Out Retirement Accounts: Monica and I grew our 401ks to over $300k in less than 5 years by consistently investing in total stock market index funds.

• Build an Emergency Fund: Be prepared for life’s surprises.

• Invest in Index Funds: Let your money grow over time.

• Pay Off Debt: Free up future income and save on interest.

• Advance Your Career: Use the savings to invest in certifications, coaching, or education.

🚀 Take Action & Get a Cyber Monday Deal!

Monica and I are thrilled about our upcoming move to New York, and we hope this inspires you to rethink your housing options, especially if you’re considering high-cost areas like Northern California.

If you appreciate the transparency in this newsletter, we share even more of this with our members in the Nurses to Riches Accelerator Program.

This program was created for nurses who want to move to California and earn $200,000 per year while working fewer than 40 hours a week.

It teaches you:

• Whether California is (or isn’t) the right fit for you

• How to get licensed in California

• How to plan your move strategically

• How to find the right hospital for your needs

• How to analyze and determine your potential wage using our Top California Hospitals Spreadsheet

• Compare the cost of renting vs buying with our Buying vs Reting Spreadsheet

• How to decide which city makes the most sense using our Ultimate Salaries Spreadsheet with Cost of Living data

• How to work smarter, not harder, so you can reduce your working hours and earn more

• How to eliminate debt (we paid off $128k in less than 1 year)

• How to start investing your money for the future

This Cyber Monday, we want to offer a special discount to all of our newsletter subscribers. With our move and the launch of our app planned for the start of the year, we may soon discontinue the coaching program.

As a thank-you for your support, we’re offering 50% off the original price, plus an additional 5% off with coupon code “LOYAL5” as a subscriber-exclusive deal. This is your chance to access everything you need to take control of your career and finances at the best price we’ve ever offered!

Enroll now while it lasts and visit our website to learn more!