Rent vs buy in Burlington, NC
In Burlington, North Carolina, typical rent is $1,310 /mo and typical home value is $252,524.
The two options are $3,126 apart over 7 years, making it a toss-up.
With Burlington's typical rent and home value as the starting point, the calculation applies 20% down and today's mortgage rate. The break-even point is year 8.
An opinion, clearly labelled, with the math shown. These figures are estimates, not quotes. Change one number and the stamp will change with it.
- Gap
- $3k after 7 years
- Break-even point
- year 8 when owning catches up
- True cost to own
- $2,178 each month year 1, against $1,310 rent
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The stamp uses Burlington's typical home value and rent. Changes to your rent, price or number of years can reverse the result.
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Enter your own rent, purchase price and down payment. The stamp changes based on those figures.
Is renting or buying cheaper in Burlington?
Small changes decide the outcome because, after 7 years, the choices are within $3,126 of each other. For the first 7 years, renting costs less. In year 8, owning catches up.
Renting. Home ownership The yearly net cost so far.
Burlington's average rent compared with its mortgage payment
The rent and mortgage leave out some costs. At Burlington's typical price, here are all monthly costs in year 1.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,310 | All of it, every month |
| Mortgage payment | $1,377 | $1,214 of it is interest in year 1 |
| Property tax | $158 | 0.75% of the value a year |
| Insurance | $81 | Census median for the city |
| Upkeep | $210 | 1% of the value a year |
| Owning, cash out | $1,826 | $163 of it builds equity |
| Lost return on the down payment | $410 | The amount the cash would earn each year at 8.3% |
| Buying costs, spread out | $105 | 3.5% of the price over 7 years |
| True cost of owning | $2,178 | Two lines above, added to cash out after removing the equity part |
The figures behind the Burlington verdict
- Typical home valueZillow ZHVI, September 2026
- $252,524
- Typical rentZillow ZORI, September 2026
- $1,310 /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, Burlington
- 0.75% of value
- Home insuranceCensus ACS 2020-2024, Burlington
- $81 /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 change would reverse the result in Burlington?
Each line shows where Burlington's 7-year verdict changes, with all other factors remaining the same.
When renting comes out ahead
- Home prices rise by less than 4.6% each year (we use 4.4%, drawn from North Carolina's long-term rate).
- A mortgage rate above 7.02% remains in place.
- For a home like this, renting costs less than $1,340 each month, while the typical rent here is $1,310.
- Before year 8, you move.
When buying comes out ahead
- Home prices increase by more than 4.6% a year.
- You secure a rate under 7.02% for your mortgage (today's is 7.24%).
- If you rented the same home, it would cost more than $1,340 a month.
- Your stay lasts 8 years or more.
How Burlington compares with the other 812 cities
| Measure | Burlington | Median city |
|---|---|---|
| Typical home value | $252,524 | $422,451 |
| Typical rent | $1,310 /mo | $1,837 /mo |
| Price-to-rent ratio | 16.1 (#549 of 813) | 18.5 |
| Home prices, last 10 years | 7.9% a year | 6.2% a year |
| Rents, last 5 years | 6.3% a year | 4% a year |
| Property tax | 0.75% | 0.87% |
| Households that rent | 46% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
More cities in North Carolina
- For Charlotte, NC, renting wins by $30k.
- For Raleigh, NC, renting wins by $61k.
- For Greensboro, NC, it's a toss-up, with renting ahead by $3k.
- For Durham, NC, renting wins by $40k.
- For Winston-Salem, NC, buying wins by $6k.
- For Fayetteville, NC, buying wins by $9k.
- For Cary, NC, renting wins by $131k.
- For Wilmington, NC, renting wins by $47k.
- For High Point, NC, buying wins by $4k.
- For Concord, NC, renting wins by $20k.
- For Greenville, NC, buying wins by $13k.
- Rent. For Asheville, NC, renting has the lower cost by $53k.