Rent vs buy in Davenport, IA
The typical monthly rent is $965, and the typical home costs $194,286 in Davenport, Iowa.
Renting comes out $34k ahead over 7 years
Today's mortgage rate and 20% down are paired with Davenport's typical rent and home value. There is no break-even within 30 years.
A clearly labeled opinion, with the math shown. These are estimates, not quotes. The stamp changes whenever a number changes.
- Renting leads by
- $34k after 7 years
- Break-even point
- 30+ years owning never catches up sooner
- Actual cost of owning
- $1,861 /mo year 1, against $965 rent
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The stamp relies on Davenport's typical rent and home value. The result can flip with your rent, price and years.
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Is buying or renting cheaper in Davenport?
Renting costs $34,232 less over 7 years when you include the money you get back from selling. For each displayed year, renting has the lower net cost. Owning does not catch up within 30 years.
Rental option. Home ownership. Year-by-year net costs to date.
Average rent compared with mortgage payment in Davenport
The mortgage and rent don't tell the full story. Here are all monthly costs for year 1 at Davenport's typical price.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $965 | All of it, every month |
| Mortgage payment | $1,059 | $934 of it is interest in year 1 |
| Property tax | $274 | 1.69% of the value a year |
| Insurance | $95 | Census median for the city |
| Upkeep | $162 | 1% of the value a year |
| Owning, cash out | $1,590 | $126 of it builds equity |
| Lost return on the down payment | $316 | The amount the cash would earn each year at 8.3% |
| Buying costs, spread out | $81 | 3.5% of the price over 7 years |
| True cost of owning | $1,861 | Cash out, subtract the equity portion and add the two lines above. |
The figures that support Davenport's verdict
- Typical home valueZillow ZHVI, September 2026
- $194,286
- Typical rentZillow ZORI, September 2026
- $965 /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, Iowa, 1995 to 2025
- 3.7% 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, Davenport
- 1.69% of value
- Home insuranceCensus ACS 2020-2024, Davenport
- $95 /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 Davenport, what would make the result flip?
Each line marks the point where Davenport's 7-year result changes, while all other factors stay the same.
Renting is cheaper when
- For home prices growing below 5.9% each year, the calculation uses 3.7% as Iowa's long-term rate.
- The mortgage rate remains above 4.08%.
- A similar home rents for under $1,330 a month, compared with the local typical rent of $965.
- If you move at any point during the next 30 years, owning won't catch up at these figures.
Buying is cheaper when
- Home prices rise by more than 5.9% a year.
- You secure a mortgage rate under 4.08% (today's is 7.24%).
- If you rented the same home, your monthly cost would exceed $1,330.
How Davenport compares with the other 812 cities
| Measure | Davenport | Median city |
|---|---|---|
| Typical home value | $194,286 | $422,451 |
| Typical rent | $965 /mo | $1,837 /mo |
| Price-to-rent ratio | 16.8 (#504 of 813) | 18.5 |
| Home prices, last 10 years | 4.2% a year | 6.2% a year |
| Rents, last 5 years | 3.6% a year | 4% a year |
| Property tax | 1.69% | 0.87% |
| Households that rent | 37% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
A look at other cities in Iowa
- Renting wins. Des Moines, IA. The difference is $29k.
- Renting wins. Cedar Rapids, IA. The difference is $19k.
- Renting wins. Sioux City, IA. The difference is $8k.
- Renting wins. Ankeny, IA. The difference is $74k.
- Renting wins. Iowa City, IA. The difference is $29k.
- Renting wins. West Des Moines, IA. The difference is $71k.
- Renting wins. Ames, IA. The difference is $67k.
- Renting wins. Waterloo, IA. The difference is $9k.
- Renting wins. Council Bluffs, IA. The difference is $23k.
- Renting wins. Dubuque, IA. The difference is $49k.