Even with home prices inching up from last year, they don’t wash away the huge cost savings lower mortgage rates offer. In fact, according to Zillow’s report, for households putting down 20%, with plans to stay at least seven years, buying is on average 37.7% cheaper than renting. This is only a 0.5% increase from 2016. Rates would need to increase well over 100% to wipe out the cost savings of buying. Such an aggressive rate hike is highly unlikely.

If you think buying is cheaper only in smaller, less densely populated cities and towns, reality says otherwise. In fact, it’s cheaper to buy than rent in more than 100 U.S. metros. Topping the list are cities including Columbus, Ohio,  Miami, FL, Houston, TX, and Charleston, SC. These areas all offer a cost savings of more than 52% in comparison to renting. While the margins are slimmer, buyers can still see cost savings in areas like San Francisco, CA, and San Jose, CA, where the differences are 25.9% and 18.6%, respectively.

Nationwide, rents have increased 3.5%, which is a slower pace than real estate prices, but it’s not insignificant — and the amount can vary drastically depending on a variety of factors, making rising rental prices an unpredictable part of your financial picture. On the other hand, once rates are locked and paperwork is signed, you can expect to pay the same amount over the course of your mortgage. The only changes could be due to property taxes, insurance rates, or if you opt for an adjustable-rate mortgage over a fixed-rate mortgage.

This tried-and-true reason to choose homeownership doesn’t depend on market conditions. One of the biggest benefits to buying a home is the ability to build equity over time — equity that can be tapped into later. While home equity shouldn’t be considered a replacement for other forms of saving, it can act as forced savings for those who have trouble putting money away. A monthly rent payment will disappear into the hands of a landlord, but a mortgage payment builds equity that can be used to purchase another home later or provide additional funds in retirement.

Another financial benefit extended to homeowners comes in the form of tax deductions. The early years of paying a mortgage consist in large part of paying down interest, but this expense is tax-deductible. Property tax is also deductible, as are as mortgage points and private mortgage insurance (PMI). Another big tax benefit occurs upon the sale of a home. If you profit on the sale of other types of investments, you are required to pay a 15% capital gains tax. But if you lived in your home two of the last five years before selling, the amount you earn on the sale isn’t taxable.