Rent vs buy in Clovis, CA
In Clovis, California, the typical rent is $2,381 /mo, while the typical home value is $514,434.
After 7 years, the difference is $4,546, making it a toss-up.
Today's mortgage rate is used with Clovis's typical rent and home value and a 20% down payment. Year 7 marks the break-even point.
An opinion with the math shown, clearly labelled. These are estimates, not quotes. The stamp changes whenever you change a number.
- Gap
- $5k after 7 years
- Break-even point
- Year 7 when owning catches up
- What owning really costs
- $4,435 each month year 1, against $2,381 rent
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The stamp reflects Clovis's figures for typical rent and home value. Different numbers for your rent, price and years can flip the result.
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Is it cheaper to rent or buy in Clovis?
Over 7 years, neither path ends more than $4,546 ahead of the other, so small changes tip the result. In year 7, the net cost of owning falls under renting's and stays lower.
Rent. Buy. Net cost by year so far.
Average rent compared with mortgage payment in Clovis
Rent and mortgage don't tell the whole story. Here are all the monthly costs for year 1, at Clovis's typical price.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $2,381 | All of it, every month |
| Mortgage payment | $2,805 | $2,472 of it is interest in year 1 |
| Property tax | $386 | 0.9% of the value a year |
| Insurance | $98 | Census median for the city |
| Upkeep | $429 | 1% of the value a year |
| Owning, cash out | $3,717 | $333 of it builds equity |
| Lost return on the down payment | $836 | At 8.3% a year, this is what the cash would earn |
| Buying costs, spread out | $214 | 3.5% of the price over 7 years |
| True cost of owning | $4,435 | Subtract the equity part from cash out, then add the two lines above. |
What the numbers say about Clovis's verdict
- Typical home valueZillow ZHVI, September 2026
- $514,434
- Typical rentZillow ZORI, September 2026
- $2,381 /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, California, 1995 to 2025
- 5.3% 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, Clovis
- 0.9% of value
- Home insuranceCensus ACS 2020-2024, Clovis
- $98 /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 change the Clovis result?
Each line marks the point where the 7-year verdict for Clovis changes, while all other factors stay the same.
When renting wins
- Home prices rise by less than 5.2% each year; we use California's long-run rate of 5.3%.
- The mortgage rate remains above 7.40%.
- A home like this has monthly rent below $2,330 (typical here: $2,381).
- Before year 7, you move.
When buying wins
- Home prices grow by more than 5.2% a year.
- You lock in a mortgage rate under 7.40% (today's is 7.24%).
- For the same home, monthly rent would exceed $2,330
- You stay for 7 years or more.
How Clovis compares with the other 812 cities
| Measure | Clovis | Median city |
|---|---|---|
| Typical home value | $514,434 | $422,451 |
| Typical rent | $2,381 /mo | $1,837 /mo |
| Price-to-rent ratio | 18.0 (#430 of 813) | 18.5 |
| Home prices, last 10 years | 5.6% a year | 6.2% a year |
| Rents, last 5 years | 3.2% a year | 4% a year |
| Property tax | 0.90% | 0.87% |
| Households that rent | 35% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
More cities in California
- In Los Angeles, CA, renting is ahead by $111k.
- In San Diego, CA, renting is ahead by $108k.
- In San Jose, CA, renting is ahead by $210k.
- In San Francisco, CA, renting is ahead by $128k.
- In Fresno, CA, buying is ahead by $22k.
- In Sacramento, CA, it's a toss-up, with renting ahead by $3k overall.
- In Long Beach, CA, renting is ahead by $111k.
- In Oakland, CA, renting is ahead by $44k.
- In Bakersfield, CA, buying is ahead by $11k.
- In Anaheim, CA, renting is ahead by $115k.
- Buy. Buying wins by $16k in Stockton, CA.
- In Riverside, CA, renting is ahead by $27k.