Rent vs buy in Coral Gables, FL
In Coral Gables, Florida, the typical rent is $3,345 a month and the typical home is $1,571,133.
Over 7 years, renting wins by $336k.
The calculation starts with Coral Gables's typical rent, its typical home value, 20% down and today's mortgage rate. There is no break-even within 30 years.
Clearly labeled opinion with the math shown. These are estimates, not quotes. If you change a number, the stamp changes.
- Renting leads by
- $336k after 7 years
- Break-even point
- 30+ years owning never catches up sooner
- True ownership cost
- $13,524 per month year 1, against $3,345 rent
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Which costs less in Coral Gables, renting or buying?
Across 7 years, renting costs $336,302 less, including the money returned when you sell. Every year shown has a lower net cost for renting than for owning, and owning never catches up within 30 years.
Rent. Buy. Net cost to date, by year.
Coral Gables average rent compared with mortgage payment
At Coral Gables's typical price, here are all the monthly costs for year 1. Rent and mortgage payments don't tell the whole story.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $3,345 | All of it, every month |
| Mortgage payment | $8,566 | $7,550 of it is interest in year 1 |
| Property tax | $1,100 | 0.84% of the value a year |
| Insurance | $356 | Census median for the city |
| Upkeep | $1,309 | 1% of the value a year |
| Owning, cash out | $11,331 | $1,016 of it builds equity |
| Lost return on the down payment | $2,554 | The cash's yearly earnings at 8.3% |
| Buying costs, spread out | $655 | 3.5% of the price over 7 years |
| True cost of owning | $13,524 | Cash paid, minus equity, plus both lines above | Subtract equity from cash paid, then add the two amounts above | Cash paid after equity, with the two amounts above added |
The Coral Gables verdict in numbers
- Typical home valueZillow ZHVI, September 2026
- $1,571,133
- Typical rentZillow ZORI, September 2026
- $3,345 /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, Florida, 1995 to 2025
- 5.4% 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, Coral Gables
- 0.84% of value
- Home insuranceCensus ACS 2020-2024, Coral Gables
- $356 /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 Coral Gables result?
Each line marks the threshold where the 7-year verdict for Coral Gables changes, while all other factors stay the same.
When renting wins
- Home prices rise at a rate under 7.7% a year. For our comparison, we apply 5.4%, Florida's long-run rate.
- A mortgage rate remains above 3.38%.
- A similar home rents for under $6,950 each month (the local typical rent is $3,345).
- At any point during the next 30 years, a move leaves owning behind at these numbers.
When buying wins
- Home prices grow at a rate faster than 7.7% a year.
- A mortgage rate below 3.38% is what you lock in (today's is 7.24%).
- Renting that same home would cost more than $6,950 each month.
Coral Gables compared with the other 812 cities
| Measure | Coral Gables | Median city |
|---|---|---|
| Typical home value | $1,571,133 | $422,451 |
| Typical rent | $3,345 /mo | $1,837 /mo |
| Price-to-rent ratio | 39.1 (#13 of 813) | 18.5 |
| Home prices, last 10 years | 7.7% a year | 6.2% a year |
| Rents, last 5 years | 5.5% a year | 4% a year |
| Property tax | 0.84% | 0.87% |
| Households that rent | 36% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
Other Florida cities
- Buy. Jacksonville, FL. Buying is ahead by $27k.
- Buy. Miami, FL. Buying is ahead by $27k.
- Buy. Tampa, FL. Buying is ahead by $19k.
- Buy. Orlando, FL. Buying is ahead by $17k.
- Buy. Buying wins by $41k in St. Petersburg, FL.
- Buy. Buying wins by $48k in Port St. Lucie, FL.
- Buy. Hialeah, FL. Buying is ahead by $37k.
- Buy. Cape Coral, FL. Buying is ahead by $36k.
- Buy. Tallahassee, FL. Buying is ahead by $11k.
- Buy. Fort Lauderdale, FL. Buying is ahead by $25k.
- Buy. Pembroke Pines, FL. Buying is ahead by $22k.
- Buy. Hollywood, FL. Buying is ahead by $17k.