No, I mean after expenses, rent/mortgage (if applicable) included. To simplify it to the absolute extreme: - A earns 100 and pays 25 in mortgage, or even 0 if

No, I mean after expenses, rent/mortgage (if applicable) included. To simplify it to the absolute extreme: - A earns 100 and pays 25 in mortgage, or even 0 if he inherited - B earns 300 and pays 100 in rent, but a mortgage would cost him 250, or perhaps he can't get one at all What does it even mean to ask "who is better off" here? On a daily basis, B obviously lives better, that part is simple at least. (I personally moved from A-like to B-like quite recently.) Now when it comes to long-term financial plans, A has a massive illiquid asset, while B has a smaller stream of liquid assets. A is more protected against financial catastrophes - he won't end up homeless, and can keep going with a minimal salary - however B does not have any assets tying him down, so he can more result move to a more prosperous area if needed. And so on. But you look at a wealth map and it'll just tell you that A is "richer"; or you look at an income map and it'll just tell you that B is "richer".