Rent vs buy in Concord, CA
The typical monthly rent in Concord, California, is $2,569 /mo, while the typical home is $720,907.
Renting is ahead by $50k over 7 years.
The calculation uses today's mortgage rate, a 20% down payment and Concord's typical rent and home value. The break-even point is year 11.
An opinion, clearly labelled, with the math shown. These are estimates, not quotes. Change any number, and the stamp will change with it.
- Rent advantage
- $50k after 7 years
- Break-even point
- At year 11 when owning catches up
- The true cost of owning
- $6,052 monthly year 1, against $2,569 rent
Change my numbers
With Concord's typical rent and home value, the stamp is calculated. Your rent, price and number of years may change the result.
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Add the rent, price and down payment amounts you want to use. Those entries change the stamp.
Is it cheaper to rent or buy in Concord?
Renting costs $49,626 less over 7 years, including the money you receive when you sell. During the first 10 years, renting costs less. In year 11, owning catches up.
Renting. Owning. Net cost by year so far.
Average rent compared with mortgage payment in Concord
At Concord's typical price, year 1 has monthly costs beyond rent and mortgage. Here are all of them.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $2,569 | All of it, every month |
| Mortgage payment | $3,930 | $3,464 of it is interest in year 1 |
| Property tax | $409 | 0.68% of the value a year |
| Insurance | $106 | Census median for the city |
| Upkeep | $601 | 1% of the value a year |
| Owning, cash out | $5,046 | $466 of it builds equity |
| Lost return on the down payment | $1,172 | The yearly return on the cash at 8.3% |
| Buying costs, spread out | $300 | 3.5% of the price over 7 years |
| True cost of owning | $6,052 | Cash paid, minus equity, plus the two amounts above. |
The numbers behind Concord's verdict
- Typical home valueZillow ZHVI, September 2026
- $720,907
- Typical rentZillow ZORI, September 2026
- $2,569 /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, Concord
- 0.68% of value
- Home insuranceCensus ACS 2020-2024, Concord
- $106 /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
In Concord, what would flip the result?
The 7-year verdict in Concord changes at the point shown by each line. Everything else remains the same.
Renting wins in these cases
- Home prices grow more slowly than 6.1% a year (California's long-run rate of 5.3% is used).
- The mortgage rate remains above 6.02%.
- A home like this has a rent below $3,100 a month (the local typical rent is $2,569).
- Your move happens before year 11.
When buying wins
- Home prices increase by more than 6.1% a year.
- You lock the mortgage rate below 6.02%; today's rate is 7.24%.
- Monthly rent for that same home would exceed $3,100.
- You remain there for 11 years or more.
How Concord compares with the other 812 cities
| Measure | Concord | Median city |
|---|---|---|
| Typical home value | $720,907 | $422,451 |
| Typical rent | $2,569 /mo | $1,837 /mo |
| Price-to-rent ratio | 23.4 (#198 of 813) | 18.5 |
| Home prices, last 10 years | 4% a year | 6.2% a year |
| Rents, last 5 years | 3.2% a year | 4% a year |
| Property tax | 0.68% | 0.87% |
| Households that rent | 38% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
More cities in California
- Renting wins by $111k in Los Angeles, CA.
- Renting wins by $108k in San Diego, CA.
- Renting wins by $210k in San Jose, CA.
- Renting wins by $128k in San Francisco, CA.
- Buying wins by $22k in Fresno, CA.
- It's a toss-up in Sacramento, CA, with renting ahead by $3k.
- Renting wins by $111k in Long Beach, CA.
- Renting wins by $44k in Oakland, CA.
- Buying wins by $11k in Bakersfield, CA.
- Renting wins by $115k in Anaheim, CA.
- Buying wins by $16k in Stockton, CA.
- Renting wins by $27k in Riverside, CA.