Rent vs buy in Clifton, NJ
In Clifton, New Jersey, the typical rent is $2,605 /mo and the typical home costs $608,762.
Over 7 years, renting comes out ahead by $106k
Using Clifton's typical rent and home value, plus 20% down and today's mortgage rate. No break-even point within 30 years.
An opinion, clearly labelled, with the math shown. The figures are estimates, not quotes. Adjust any number and the stamp updates.
- Renting leads by
- $106k after 7 years
- Break-even point
- 30 years or more owning never catches up sooner
- What owning really costs
- $5,879 each month year 1, against $2,605 rent
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The stamp applies Clifton's typical home value and rent figures. Adjust the rent, price and number of years, and the result can flip.
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In Clifton, is renting or buying cheaper?
Counting the money you get back when you sell, renting costs $106,158 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.
Renting Cost of owning Net cost by year so far.
Average rent compared with mortgage payment in Clifton
Rent and the mortgage don't tell the whole story. Here are all monthly costs for year 1, based on Clifton's typical price.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $2,605 | All of it, every month |
| Mortgage payment | $3,319 | $2,925 of it is interest in year 1 |
| Property tax | $1,101 | 2.17% of the value a year |
| Insurance | $102 | Census median for the city |
| Upkeep | $507 | 1% of the value a year |
| Owning, cash out | $5,029 | $394 of it builds equity |
| Lost return on the down payment | $989 | The yearly return on that cash at 8.3% |
| Buying costs, spread out | $254 | 3.5% of the price over 7 years |
| True cost of owning | $5,879 | Cash paid, minus the equity share, plus both items listed above |
Behind the Clifton verdict: the numbers
- Typical home valueZillow ZHVI, September 2026
- $608,762
- Typical rentZillow ZORI, September 2026
- $2,605 /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, New Jersey, 1995 to 2025
- 4.7% 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, Clifton
- 2.17% of value
- Home insuranceCensus ACS 2020-2024, Clifton
- $102 /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 flip the result in Clifton?
The 7-year verdict for Clifton changes at the point shown on each line, with all remaining settings unchanged.
When renting wins
- Home prices grow by less than 6.8% a year (we use New Jersey's rate over the long run, 4.7%).
- The mortgage rate stays higher than 4.11%.
- For a home like this, monthly rent is less than $3,740 (typical here: $2,605).
- If you move at any time during the next 30 years, owning still never catches up at these numbers.
When buying wins
- Home prices rise faster than 6.8% a year.
- You secure a mortgage rate under 4.11% (the current rate is 7.24%).
- The same home would cost over $3,740 monthly to rent.
Clifton compared with the other 812 cities
| Measure | Clifton | Median city |
|---|---|---|
| Typical home value | $608,762 | $422,451 |
| Typical rent | $2,605 /mo | $1,837 /mo |
| Price-to-rent ratio | 19.5 (#361 of 813) | 18.5 |
| Home prices, last 10 years | 6.5% a year | 6.2% a year |
| Property tax | 2.17% | 0.87% |
| Households that rent | 40% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
More cities in New Jersey
- Renting wins by $74k in Newark, NJ.
- Renting wins by $163k in Paterson, NJ.