Rent vs buy in Berwyn, IL

For Berwyn, Illinois, the typical rent is $1,485 /mo and the typical home costs $317,986.

Rent

Over 7 years, renting comes out $84k ahead.

With Berwyn's typical rent and home value, the calculation uses 20% down and today's mortgage rate. There's no break-even within 30 years.

Clearly labelled opinion, with the math shown. These are estimates, not quotes. The stamp updates when you change a number.

Ahead by renting: $84k
Break-even point: At least 30 years
Owning's true cost: $3,149 /mo

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The stamp is built from Berwyn's typical home value and typical rent. Your rent, price and time period can change the result.

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Which costs less in Berwyn, renting or buying?

Over 7 years, renting costs $84,343 less after counting the money you get back when you sell. Every year shown has a lower net cost for renting than for owning. Buying never catches up within 30 years.

The renting option. Owning. Year-by-year net cost so far.

Average rent compared with mortgage payment in Berwyn

Year 1 includes every monthly cost at Berwyn's typical price, not just rent and the mortgage.

Each month, year 1	Amount	What it is
Rent	$1,485	All of it, every month
Mortgage payment	$1,734	$1,528 of it is interest in year 1
Property tax	$602	2.27% of the value a year
Insurance	$105	Census median for the city
Upkeep	$265	1% of the value a year
Owning, cash out	$2,705	$206 of it builds equity
Lost return on the down payment	$517	At 8.3% a year, what the cash would earn
Buying costs, spread out	$132	3.5% of the price over 7 years
True cost of owning	$3,149	Cash out minus the equity portion plus the two entries above

The numbers behind Berwyn's verdict

Typical home value: Zillow ZHVI, September 2026: $317,986
Typical rent: Zillow ZORI, September 2026: $1,485 /mo
A 20% down payment avoids private mortgage insurance. The engine doesn't model this cost.: 20%
Mortgage rate source: Freddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US): 7.24%
Home prices, growth rate: FHFA house price index for Illinois, 1995 to 2025: Each year: 3.3%
Rents, growth over time: CPI for rent of primary residence, yearly growth from 2006 to 2026: Each year: 3.5%
Savings return: 60% in the S&P 500 with dividends plus 40% in 10-year Treasuries, rebalanced each year, 1928 to 2025: Each year: 8.3%
Property tax source: Census ACS 2020-2024, Berwyn: This applies at 2.27% of value.
Home insurance source: Census ACS 2020-2024, Berwyn: Monthly cost: $105
Maintenance source: Fannie Mae, low end of 1% to 4%: Each year: 1% of value
Costs of buyingFreddie Mac, 2% to 5%, the middle of that range: 3.5% of the purchase price
Selling costs cover agent commission and closing costs: 6% of the price

In Berwyn, what would flip it?

With everything else unchanged, each line shows the point where Berwyn's 7-year verdict changes.

Renting wins if

With home price growth below 6.6% a year, the calculation uses 3.3%, Illinois's long-run rate.
A mortgage rate remains above 2.43%.
Monthly rent for a home like this is under $2,390 (typical here: $1,485).
Moving during the next 30 years, at these numbers owning never catches up.

Buying wins if

Home prices increase by more than 6.6% a year.
You lock in a mortgage rate under 2.43% (today's rate is 7.24%).
The same home would cost more than $2,390 a month to rent.

Berwyn compared with the other 812 cities

Measure	Berwyn	Median city
Typical home value	$317,986	$422,451
Typical rent	$1,485 /mo	$1,837 /mo
Price-to-rent ratio	17.8 (#439 of 813)	18.5
Home prices, last 10 years	5.9% a year	6.2% a year
Rents, last 5 years	5.6% a year	4% a year
Property tax	2.27%	0.87%
Households that rent	39%	42%

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

Other Illinois cities

Toss-up. In Chicago, IL, it's a toss-up, with buying ahead by $3k.
Renters win by $68k in Bloomington, IL.

Illinois rent vs buy numbers