Rent vs buy in Bolingbrook, IL
In Bolingbrook, Illinois, typical rent is $2,742 a month and typical home value is $369,498.
Over 7 years, the difference is $7,790, making it a toss-up.
Today's mortgage rate and 20% down, at Bolingbrook's typical rent and its home value. Break-even point: year 9.
An opinion, clearly labelled, with the math shown. These are estimates, not quotes. Adjust any number and the stamp updates.
- Gap
- $8k after 7 years
- Break-even point
- Year 9 when owning catches up
- What owning really costs
- $3,709 /mo year 1, against $2,742 rent
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In Bolingbrook, is it cheaper to rent or buy?
Small changes decide it: over 7 years the two paths land within $7,790 of each other. For the first 8 years, renting costs less. In year 9, owning catches up.
Rent. Own. Net cost so far, year by year.
Bolingbrook average rent compared with mortgage payment
Rent and the mortgage only cover part of it. Every monthly cost for year 1, priced at Bolingbrook's typical price, is listed here.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $2,742 | All of it, every month |
| Mortgage payment | $2,014 | $1,776 of it is interest in year 1 |
| Property tax | $757 | 2.46% of the value a year |
| Insurance | $113 | Census median for the city |
| Upkeep | $308 | 1% of the value a year |
| Owning, cash out | $3,193 | $239 of it builds equity |
| Lost return on the down payment | $601 | What the cash would earn in a year at 8.3% |
| Buying costs, spread out | $154 | 3.5% of the price over 7 years |
| True cost of owning | $3,709 | Cash out, less the equity part, then add the two lines above |
Inside the numbers behind the Bolingbrook decision
- Typical home valueZillow ZHVI, September 2026
- $369,498
- Typical rentZillow ZORI, September 2026
- $2,742 /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, Illinois, 1995 to 2025
- 3.3% 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, Bolingbrook
- 2.46% of value
- Home insuranceCensus ACS 2020-2024, Bolingbrook
- $113 /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 reverse the result in Bolingbrook?
Each line marks the threshold where the 7-year verdict in Bolingbrook flips, while everything else stays as it is.
When renting wins
- With home prices growing by less than 3.6% each year, the calculation uses 3.3%, Illinois's long-run rate.
- A mortgage rate above 6.87% remains in place.
- A home like this one rents for under $2,830 a month (typical for this city: $2,742).
- Before year 9, you move.
When buying wins
- Home prices rise by more than 3.6% a year.
- You secure a mortgage rate under 6.87% (today's is 7.24%).
- For the same home, monthly rent would exceed $2,830.
- You stay 9 years or more.
How Bolingbrook compares with 812 other cities
| Measure | Bolingbrook | Median city |
|---|---|---|
| Typical home value | $369,498 | $422,451 |
| Typical rent | $2,742 /mo | $1,837 /mo |
| Price-to-rent ratio | 11.2 (#774 of 813) | 18.5 |
| Home prices, last 10 years | 6% a year | 6.2% a year |
| Rents, last 5 years | 6.4% a year | 4% a year |
| Property tax | 2.46% | 0.87% |
| Households that rent | 21% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
Other Illinois cities
- It's a toss-up. In Chicago, IL, the gap favors buying at $3k.
- For Aurora, IL, renting leads by $12k.
- For Naperville, IL, renting leads by $198k.
- For Joliet, IL, renting leads by $30k.
- For Rockford, IL, renting leads by $22k.
- For Elgin, IL, renting leads by $58k.
- For Springfield, IL, renting leads by $13k.
- Buy. Peoria, IL. Buying comes out ahead by $15k.
- For Champaign, IL, renting leads by $29k.
- For Waukegan, IL, renting leads by $24k.
- Rent. Cicero, IL. The renting side wins by $71k.
- Rent. Bloomington, IL. The renting side wins by $68k.