Rent vs buy in Ankeny, IA

In Ankeny, Iowa, the typical rent is $1,464 /mo and the typical home is $338,618.

Rent

Renting comes out $74k ahead over 7 years

With a 20% down payment and the mortgage rate in effect today, the figures use Ankeny's typical rent and home value. No break-even occurs within 30 years.

Clearly labeled opinion with the math shown. These are estimates, not quotes. The stamp changes whenever you change a number.

Rent leads by: $74k
Point of break-even: A period of 30+ years
Actual cost of ownership: $3,177 each month

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The stamp applies Ankeny's typical rent and home value figures. You can change the result with your rent, price and years.

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Is renting or buying cheaper in Ankeny?

Across 7 years, renting saves $74,398 after counting the money returned to you when you sell. In every year shown, renting has a lower net cost than owning. Owning still hasn't caught up by the end of 30 years.

For renting. For owning. Cumulative net cost so far, by year.

Comparing Ankeny's average rent with its mortgage payment

This breaks down all monthly costs for year 1 at Ankeny's typical price, not just rent and mortgage.

Each month, year 1	Amount	What it is
Rent	$1,464	All of it, every month
Mortgage payment	$1,846	$1,627 of it is interest in year 1
Property tax	$474	1.68% of the value a year
Insurance	$102	Census median for the city
Upkeep	$282	1% of the value a year
Owning, cash out	$2,704	$219 of it builds equity
Lost return on the down payment	$550	The amount the cash would earn annually at 8.3%
Buying costs, spread out	$141	3.5% of the price over 7 years
True cost of owning	$3,177	Cash out, minus its equity portion, plus the two amounts above

The Ankeny numbers behind the verdict

Typical home valueZillow ZHVI, September 2026: $338,618
Typical rentZillow ZORI, September 2026: $1,464 /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, Iowa, 1995 to 2025: 3.7% 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, Ankeny: 1.68% of value
Home insuranceCensus ACS 2020-2024, Ankeny: $102 /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 would change the result in Ankeny?

Each line marks the point where Ankeny's 7-year verdict changes, with everything else staying as it is.

Renting comes out ahead when

Home prices grow by less than 6.4% a year. Our 3.7% figure comes from Iowa's long-run pace.
The mortgage rate remains above 3.28%.
A similar property has monthly rent below $2,260, and the typical rent here is $1,464.
Owning remains behind at these numbers whenever you move during the next 30 years.

Buying comes out ahead when

Home values increase by more than 6.4% each year.
Your mortgage rate is locked in below 3.28%, while today's rate is 7.24%.
If you rented that same home, the monthly cost would exceed $2,260.

Comparing Ankeny with the other 812 cities

Measure	Ankeny	Median city
Typical home value	$338,618	$422,451
Typical rent	$1,464 /mo	$1,837 /mo
Price-to-rent ratio	19.3 (#369 of 813)	18.5
Home prices, last 10 years	4.2% a year	6.2% a year
Rents, last 5 years	3.4% a year	4% a year
Property tax	1.68%	0.87%
Households that rent	29%	42%

Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.

Cities elsewhere in Iowa

Renting wins by $29k in Des Moines, IA.
Renting wins by $8k in Sioux City, IA.
Renting wins by $71k in West Des Moines, IA.
Renting wins by $23k in Council Bluffs, IA.

Iowa's rent vs buy numbers