Rent vs buy in Concord, NC
The typical home in Concord, North Carolina is $377,926, with typical rent at $1,784 /mo.
Renting is ahead by $20k over 7 years.
It uses today's mortgage rate and 20% down, plus the typical rent and home value used for Concord's calculation. The break-even point is year 11.
Clearly marked opinion with the math shown. These figures are estimates, not quotes. The stamp changes whenever you change a number.
- Renting comes out ahead by
- $20k after 7 years
- Break-even point
- year 11 when owning catches up
- Actual cost of owning
- $3,246 /mo year 1, against $1,784 rent
Change my numbers
Concord's typical rent and home value are used for the stamp. Your rent, price and number of years may change the result.
Do these figures differ from the city's?
Provide your own figures for rent, purchase price and down payment. The stamp changes as those figures change.
Is renting or buying cheaper in Concord?
If you count the money returned to you when you sell, renting costs $20,115 less over 7 years. For the first 10 years, renting costs less. By year 11, owning catches up.
Renting. Owning. Net cost to date, broken down by year.
Concord's average rent compared with its mortgage payment
At Concord's typical price, rent and the mortgage don't show all monthly costs in year 1, so here are all of them.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,784 | All of it, every month |
| Mortgage payment | $2,060 | $1,816 of it is interest in year 1 |
| Property tax | $246 | 0.78% of the value a year |
| Insurance | $98 | Census median for the city |
| Upkeep | $315 | 1% of the value a year |
| Owning, cash out | $2,719 | $244 of it builds equity |
| Lost return on the down payment | $614 | The annual return on the cash at 8.3% |
| Buying costs, spread out | $157 | 3.5% of the price over 7 years |
| True cost of owning | $3,246 | Cash out, minus the equity portion, plus the two amounts above |
Concord results and the figures behind them
- Typical home valueZillow ZHVI, September 2026
- $377,926
- Typical rentZillow ZORI, September 2026
- $1,784 /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, Concord
- 0.78% of value
- Home insuranceCensus ACS 2020-2024, Concord
- $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 reverse the verdict in Concord?
Each line shows where Concord's 7-year verdict flips. Everything else stays as it is.
Renting comes out ahead when
- If home-price growth runs below 5.0% annually, we apply 4.4%, North Carolina's statewide long-run rate.
- The mortgage rate remains above 6.30%.
- A similar home rents for under $2,000 a month, compared with the typical $1,784 here.
- Before year 11, you move.
Buying comes out ahead when
- Home prices increase at a rate above 5.0% each year.
- You secure a rate under 6.30%; today's mortgage rate is 7.24%.
- You would pay more than $2,000 each month to rent the same home.
- You remain there for 11 years or more.
Concord compared with the other 812 cities
| Measure | Concord | Median city |
|---|---|---|
| Typical home value | $377,926 | $422,451 |
| Typical rent | $1,784 /mo | $1,837 /mo |
| Price-to-rent ratio | 17.7 (#452 of 813) | 18.5 |
| Home prices, last 10 years | 7.2% a year | 6.2% a year |
| Rents, last 5 years | 3.5% a year | 4% a year |
| Property tax | 0.78% | 0.87% |
| Households that rent | 35% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
A look at other North Carolina cities
- Rent. Charlotte, NC. Renting comes out ahead by $30k.
- Rent. Raleigh, NC. The advantage for renting is $61k.
- Toss-up. Greensboro, NC. Renting is ahead by $3k.
- Rent. Durham, NC. The advantage for renting is $40k.
- Buy. Winston-Salem, NC. The advantage for buying is $6k.
- Buy. Fayetteville, NC. The advantage for buying is $9k.
- Rent. Cary, NC. The advantage for renting is $131k.
- Rent. Wilmington, NC. The advantage for renting is $47k.
- Buy. High Point, NC. The advantage for buying is $4k.
- Buy. Greenville, NC. The advantage for buying is $13k.
- Rent. Asheville, NC. The advantage for renting is $53k.
- Toss-up. Gastonia, NC. Renting is ahead by $576.