Rent vs buy in Bayonne, NJ
Bayonne, New Jersey, has a typical rent of $2,342 each month and a typical home value of $588,256.
Over 7 years, renting comes out ahead by $122k
Today's mortgage rate applies to the calculation, along with 20% down and Bayonne's typical rent and home value. There's no break-even within 30 years.
Clearly labeled opinion, with the math shown. These are estimates rather than quotes. If you change a number, the stamp changes with it.
- Renting leads by
- $122k after 7 years
- Break-even point
- 30+ years owning never catches up sooner
- Actual cost of ownership
- $5,714 /mo year 1, against $2,342 rent
Change my numbers
Bayonne's typical rent and home value are used for the stamp. Your own rent, price and years can reverse the result.
Are your numbers different from the city's?
For rent, price and down payment, use your own figures. Those entries change the stamp.
Is renting or buying cheaper in Bayonne?
After counting the money returned to you when you sell, renting costs $121,751 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. Ownership option. Net cost by year so far.
Bayonne's average rent compared with its mortgage payment.
Rent and the mortgage don't tell the whole story. Here are all monthly costs for year 1 at Bayonne's typical price.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $2,342 | All of it, every month |
| Mortgage payment | $3,207 | $2,827 of it is interest in year 1 |
| Property tax | $1,064 | 2.17% of the value a year |
| Insurance | $132 | Census median for the city |
| Upkeep | $490 | 1% of the value a year |
| Owning, cash out | $4,893 | $380 of it builds equity |
| Lost return on the down payment | $956 | Annual earnings from the cash would be 8.3% |
| Buying costs, spread out | $245 | 3.5% of the price over 7 years |
| True cost of owning | $5,714 | Cash paid out, minus the equity portion, plus the two amounts listed above |
The figures behind Bayonne's result
- Typical home valueZillow's ZHVI, September 2026
- $588,256
- Typical rentZillow data for ZORI, September 2026
- $2,342 each month
- A 20% down payment avoids private mortgage insurance, which isn't included in the engine's model.
- 20%
- Mortgage interest rateData from Freddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Growth in home prices FHFA home price index, New Jersey, 1995 through 2025
- Each year: 4.7%
- Rent growth CPI rent of primary residence, growth each year 2006 to 2026
- Each year: 3.5%
- Savings return 60% S&P 500 with dividends plus 40% 10-year Treasuries, rebalanced each year, 1928 to 2025
- Each year: 8.3%
- Property taxSource: Census ACS 2020-2024, Bayonne
- Value-based rate: 2.17%
- Home insuranceSource: Census ACS 2020-2024, Bayonne
- $132 each month
- Maintenance Fannie Mae, low end of the 1% to 4% range
- Per year, 1% of value
- Buying costs Freddie Mac, middle of the 2% to 5% range
- 3.5% of the price paid
- Sale expensesAgent commission plus closing costs
- Percentage of price: 6%
What would flip the verdict in Bayonne?
Every line shows the threshold that changes the 7-year result for Bayonne while all other figures remain the same.
Renting wins if
- Price growth under 7.1% a year (our figures use 4.7%, New Jersey's rate over many years).
- The mortgage rate remains over 3.51%.
- A comparable home rents for under $3,650 each month, while the local typical rent is $2,342.
- If you move at any time during the next 30 years, owning won't catch up at these figures.
Buying wins if
- Home prices increase by more than 7.1% a year.
- You secure a mortgage rate under 3.51%, compared with today's 7.24%.
- Renting that same home would cost over $3,650 each month.
Bayonne compared with the other 812 cities
| Measure | Bayonne | Median city |
|---|---|---|
| Typical home value | $588,256 | $422,451 |
| Typical rent | $2,342 /mo | $1,837 /mo |
| Price-to-rent ratio | 20.9 (#289 of 813) | 18.5 |
| Home prices, last 10 years | 7.1% a year | 6.2% a year |
| Rents, last 5 years | 5.1% a year | 4% a year |
| Property tax | 2.17% | 0.87% |
| Households that rent | 64% | 42% |
Sources used: Zillow ZHVI and ZORI, Census ACS 2020-2024.
Other New Jersey cities
- Rent. Newark, NJ. Renting comes out ahead by $74k.
- Rent. Jersey City, NJ. Renting comes out ahead by $53k.
- Rent. Paterson, NJ. Renting comes out ahead by $163k.
- Rent. Elizabeth, NJ. Renting comes out ahead by $114k.
- Rent. Trenton, NJ. Renting comes out ahead by $26k.
- Rent. Clifton, NJ. Renting comes out ahead by $106k.
- Rent. East Orange, NJ. Renting comes out ahead by $114k.
- Buy. Camden, NJ. Buying comes out ahead by $77k.
- Rent. Passaic, NJ. Renting comes out ahead by $135k.
- Rent. Union City, NJ. Renting comes out ahead by $98k.
- Renting. Vineland, NJ. Renting wins by $13k.
- Renting. Hoboken, NJ. Renting wins by $57k.