Rent vs buy in Columbus, OH
In Columbus, Ohio, typical rent is $1,471 /mo and the typical home costs $243,122.
Across 7 years, renting comes out ahead by $12k
These figures use Columbus's typical rent and home value, 20% down and today's mortgage rate assumption. Costs break even in year 11.
An opinion, clearly labelled, with the math shown. These are estimates, not quotes. The stamp updates whenever a number changes.
- How far renting is ahead
- $12k after 7 years
- When costs break even
- year 11 when owning catches up
- Actual cost of owning
- $2,218 /mo year 1, against $1,471 rent
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Columbus's typical rent and home value drive the stamp. Your rent, price and time period can change the result.
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Enter your rent, price and down payment. The stamp updates with each one.
Is it cheaper to rent or buy in Columbus?
Renting costs $11,879 less over 7 years, including the money returned when you sell. For the first 10 years, renting costs less. By year 11, owning has caught up.
The renting option. The owning option. Year-by-year net cost so far.
Columbus average rent compared with mortgage payment
At Columbus's typical price during year 1, here's every monthly cost. Rent and mortgage payments leave out part of the story.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,471 | All of it, every month |
| Mortgage payment | $1,325 | $1,168 of it is interest in year 1 |
| Property tax | $267 | 1.32% of the value a year |
| Insurance | $83 | Census median for the city |
| Upkeep | $203 | 1% of the value a year |
| Owning, cash out | $1,879 | $157 of it builds equity |
| Lost return on the down payment | $395 | At 8.3% a year, that's what the cash would earn. |
| Buying costs, spread out | $101 | 3.5% of the price over 7 years |
| True cost of owning | $2,218 | Cash paid out, minus equity, plus both lines above |
The figures behind Columbus's result
- Typical home valueZillow ZHVI, September 2026
- $243,122
- Typical rentZillow ZORI, September 2026
- $1,471 /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, Ohio, 1995 to 2025
- 3.5% 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, Columbus
- 1.32% of value
- Home insuranceCensus ACS 2020-2024, Columbus
- $83 /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 result in Columbus?
Each line shows where Columbus's 7-year verdict changes, while all other figures stay the same.
Renting comes out ahead when
- Home prices rise slower than 4.1% a year (our math uses 3.5%, Ohio's long-run rate).
- Your mortgage rate remains above 6.37%.
- Monthly rent for a home like this is under $1,600 (typical here: $1,471).
- Moving before year 11.
Buying comes out ahead when
- Prices for homes grow by more than 4.1% each year.
- With today's rate at 7.24%, you secure a mortgage rate below 6.37%.
- The same home would cost more than $1,600 monthly to rent.
- You remain for 11 years or longer.
How Columbus compares with the other 812 cities
| Measure | Columbus | Median city |
|---|---|---|
| Typical home value | $243,122 | $422,451 |
| Typical rent | $1,471 /mo | $1,837 /mo |
| Price-to-rent ratio | 13.8 (#689 of 813) | 18.5 |
| Home prices, last 10 years | 7.5% a year | 6.2% a year |
| Rents, last 5 years | 4.2% a year | 4% a year |
| Property tax | 1.32% | 0.87% |
| Households that rent | 56% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
Other cities across Ohio
- Buy. Akron, OH comparison. Buying comes out ahead by $19k.