Rent vs buy in Apex, NC
In Apex, North Carolina, the typical rent is $1,947 /mo and the typical home is $588,793.
Renting comes out ahead by $101k over 7 years
Using Apex's typical rent and typical home value, at 20% down and today's mortgage rate. No break-even point within 30 years.
An opinion, clearly labelled, with the math shown. These are estimates, not quotes. If you change a number, the stamp changes.
- Renting leads by
- $101k after 7 years
- Break-even point
- 30 years or more owning never catches up sooner
- What owning really costs
- $4,971 a month year 1, against $1,947 rent
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Apex's typical rent and its typical home value are what the stamp uses. Your rent, price and time period can change the result.
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In Apex, is renting or buying cheaper?
Counting the money you get back when you sell, renting costs $101,223 less over 7 years. In every year shown, renting's net cost is lower than owning's, and owning never catches up within 30 years.
Rent option. Buy option. Net cost to date, by year.
Apex: average rent against mortgage payment
Rent and the mortgage don't tell the whole story. Here are all the monthly costs at Apex's typical price in year 1.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,947 | All of it, every month |
| Mortgage payment | $3,210 | $2,829 of it is interest in year 1 |
| Property tax | $339 | 0.69% of the value a year |
| Insurance | $110 | Census median for the city |
| Upkeep | $491 | 1% of the value a year |
| Owning, cash out | $4,149 | $381 of it builds equity |
| Lost return on the down payment | $957 | What that cash would earn each year at 8.3% |
| Buying costs, spread out | $245 | 3.5% of the price over 7 years |
| True cost of owning | $4,971 | Subtract the equity part from cash out, then add the two lines above. |
Apex verdict: the figures behind it
- Typical home valueZillow ZHVI, September 2026
- $588,793
- Typical rentZillow ZORI, September 2026
- $1,947 /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, North Carolina, 1995 to 2025
- 4.4% 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, Apex
- 0.69% of value
- Home insuranceCensus ACS 2020-2024, Apex
- $110 /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 verdict in Apex?
Each line marks the tipping point: the verdict for 7 years in Apex flips, with everything else held as it is.
Renting comes out ahead when
- Prices for homes increase by less than 6.4% a year. We apply 4.4%, drawn from North Carolina's long-term growth rate.
- The rate for the mortgage remains above 4.16%.
- Homes like this one rent below $3,030 a month (typical rent here: $1,947).
- Move at any time in the next 30 years, and owning still never catches up at these numbers.
Buying comes out ahead when
- Home prices rise by more than 6.4% a year.
- You fix a mortgage rate under 4.16%. Today's rate is 7.24%.
- The same home would cost more than $3,030 a month to rent.
Apex compared with the other 812 cities
| Measure | Apex | Median city |
|---|---|---|
| Typical home value | $588,793 | $422,451 |
| Typical rent | $1,947 /mo | $1,837 /mo |
| Price-to-rent ratio | 25.2 (#141 of 813) | 18.5 |
| Home prices, last 10 years | 5.5% a year | 6.2% a year |
| Rents, last 5 years | 2.1% a year | 4% a year |
| Property tax | 0.69% | 0.87% |
| Households that rent | 23% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
North Carolina: more cities
- Rent. Charlotte, NC. Renting is ahead by $30k.
- Rent. Raleigh, NC. Renting comes out ahead by $61k.
- Toss-up. Greensboro, NC. Too close to call; renting is up by $3k.
- Rent. Durham, NC. Renting is ahead by $40k.
- Buy. Winston-Salem, NC. Buying comes out ahead by $6k.
- Buying comes out on top in Fayetteville, NC, a lead of $9k.
- Renting comes out on top in Cary, NC, a lead of $131k.
- Renting comes out on top in Wilmington, NC, a lead of $47k.
- Buying comes out on top in High Point, NC, a lead of $4k.
- Renting comes out on top in Concord, NC, a lead of $20k.
- Buying comes out on top in Greenville, NC, a lead of $13k.
- Renting comes out on top in Asheville, NC, a lead of $53k.