Rent vs buy in Alexandria, VA
In Alexandria, Virginia, the typical rent is $2,275 /mo, while the typical home is $662,843.
Across 7 years, renting comes out ahead by $106k.
Today's mortgage rate is included, with Alexandria's typical rent and home value and 20% down. Within 30 years, no break-even point is reached.
Clearly labeled opinion with the math shown. These are estimates, not quotes. The stamp changes whenever you change a number.
- Renting's lead
- $106k after 7 years
- The break-even point
- 30+ years owning never catches up sooner
- Actual cost of ownership
- $5,706 /mo year 1, against $2,275 rent
Change my numbers
Alexandria's typical rent and home value are the stamp's inputs. Your rent, price and years can change the result.
Do your numbers differ from the city's?
Enter your rent, price and down payment. The stamp updates to match them.
Is it cheaper to rent or buy in Alexandria?
After counting the money you get back when you sell, renting costs $106,428 less over 7 years. Each year shown has a lower net cost for renting. The 30-year period ends without owning catching up.
Renting Owning Net costs by year so far.
Alexandria's average rent compared with mortgage payment
Rent and mortgage payments don't tell the whole story. Using Alexandria's typical price, you can see every monthly cost in year 1.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $2,275 | All of it, every month |
| Mortgage payment | $3,614 | $3,185 of it is interest in year 1 |
| Property tax | $530 | 0.96% of the value a year |
| Insurance | $84 | Census median for the city |
| Upkeep | $552 | 1% of the value a year |
| Owning, cash out | $4,780 | $429 of it builds equity |
| Lost return on the down payment | $1,077 | At a rate of 8.3% a year, this is what the cash would earn. |
| Buying costs, spread out | $276 | 3.5% of the price over 7 years |
| True cost of owning | $5,706 | Cash paid, minus the equity portion, plus the two lines listed above |
Alexandria's verdict explained through the numbers
- Typical home valueZillow ZHVI, September 2026
- $662,843
- Typical rentZillow ZORI, September 2026
- $2,275 /mo
- Down payment20% avoids private mortgage insurance, which the engine does not model
- 20%
- Mortgage rateFreddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Home price growthFHFA house price index, Virginia, 1995 to 2025
- 4.6% a year
- Rent growthCPI rent of primary residence, yearly growth 2006 to 2026
- 3.5% a year
- Return on savings60% S&P 500 with dividends and 40% 10-year Treasuries, rebalanced yearly, 1928 to 2025
- 8.3% a year
- Property taxCensus ACS 2020-2024, Alexandria
- 0.96% of value
- Home insuranceCensus ACS 2020-2024, Alexandria
- $84 /mo
- MaintenanceFannie Mae, low end of 1% to 4%
- 1% of value a year
- Buying costsFreddie Mac, middle of 2% to 5%
- 3.5% of price
- Selling costsAgent commission plus closing costs
- 6% of price
What could change the Alexandria result?
In Alexandria, each line shows where the 7-year verdict changes while all other conditions remain the same.
Renting is the better choice when
- Home prices rise less than 6.5% a year (the 4.6% we use reflects Virginia's long-run pace).
- The mortgage rate remains above 4.36%.
- Monthly rent for a home like this is under $3,420, compared with the typical $2,275 here.
- With these figures, owning never catches up if you move at any time during the next 30 years.
Buying is the better choice when
- Annual home price growth is faster than 6.5%.
- You lock in a mortgage rate under 4.36%; the rate today is 7.24%.
- The monthly rent for that same home would exceed $3,420.
Alexandria compared with the other 812 cities
| Measure | Alexandria | Median city |
|---|---|---|
| Typical home value | $662,843 | $422,451 |
| Typical rent | $2,275 /mo | $1,837 /mo |
| Price-to-rent ratio | 24.3 (#159 of 813) | 18.5 |
| Home prices, last 10 years | 3.8% a year | 6.2% a year |
| Rents, last 5 years | 3.4% a year | 4% a year |
| Property tax | 0.96% | 0.87% |
| Households that rent | 58% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
Other Virginia cities
- Rent. Virginia Beach, VA. The advantage is $9k for renting.
- Rent. Chesapeake, VA gives renting a $12k lead.
- Rent. Richmond, VA gives renting a $24k lead.
- Buy. Norfolk, VA gives buying a $6k lead.
- Toss-up. Newport News, VA has buying ahead by $2k.
- Buy. Hampton, VA gives buying an $18k lead.
- Toss-up. Suffolk, VA has renting ahead by $1k.
- Rent. Roanoke, VA gives renting a $10k lead.
- Buy. Portsmouth, VA gives buying an $18k lead.
- Rent. Lynchburg, VA gives renting an $8k lead.
- Rent. Harrisonburg, VA gives renting a $5k lead.