Rent vs buy in Edmond, OK
In Edmond, Oklahoma, the typical rent is $1,642 /mo and the typical home costs $354,038.
Over 7 years, renting comes out ahead by $49k
Based on Edmond's typical rent and home value, a 20% down payment and today's mortgage rate. Year 22 marks the break-even point.
Our take is clearly labelled, and the math is shown. These are estimates, not quotes. The stamp updates whenever you change a number.
- Ahead on renting
- $49k after 7 years
- The break-even point
- year 22 when owning catches up
- The real cost of owning
- Per month: $3,222 year 1, against $1,642 rent
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Is renting or buying cheaper in Edmond?
Across 7 years, renting saves you $48,527 after counting the money you get back when you sell. For the first 21 years, renting costs less. Buying catches up in year 22.
Rent. Buy. Net cost by year so far.
Average rent compared with mortgage payment in Edmond
Rent and the mortgage tell only part of the story. All the monthly costs for year 1 at Edmond's typical price are listed.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,642 | All of it, every month |
| Mortgage payment | $1,930 | $1,701 of it is interest in year 1 |
| Property tax | $274 | 0.93% of the value a year |
| Insurance | $228 | Census median for the city |
| Upkeep | $295 | 1% of the value a year |
| Owning, cash out | $2,728 | $229 of it builds equity |
| Lost return on the down payment | $575 | The amount the cash would earn yearly at 8.3% |
| Buying costs, spread out | $148 | 3.5% of the price over 7 years |
| True cost of owning | $3,222 | Cash out, minus the equity part, plus both lines above. |
The numbers behind the verdict for Edmond
- Typical home valueZillow ZHVI, September 2026
- $354,038
- Typical rentZillow ZORI, September 2026
- $1,642 /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, Oklahoma, 1995 to 2025
- 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, Edmond
- 0.93% of value
- Home insuranceCensus ACS 2020-2024, Edmond
- $228 /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 could change the result in Edmond?
Each line marks the point where Edmond's 7-year verdict changes, while everything else stays the same.
When renting comes out ahead
- We use 4%, which is Oklahoma's rate over the long run, so home prices rise by less than 5.7% a year.
- The rate on a mortgage stays above 4.79%.
- For a home like this, rent runs below $2,160 a month; typical here is $1,642.
- You move before year 22 arrives.
You win by buying when
- Home prices grow by more than 5.7% a year.
- You lock in a rate below 4.79% for your mortgage (today's rate is 7.24%).
- Rent for that same home would run over $2,160 a month for you.
- You stay 22 years or more.
How Edmond compares with 812 other cities
| Measure | Edmond | Median city |
|---|---|---|
| Typical home value | $354,038 | $422,451 |
| Typical rent | $1,642 /mo | $1,837 /mo |
| Price-to-rent ratio | 18.0 (#431 of 813) | 18.5 |
| Home prices, last 10 years | 4% a year | 6.2% a year |
| Rents, last 5 years | 3.1% a year | 4% a year |
| Property tax | 0.93% | 0.87% |
| Households that rent | 30% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
More Oklahoma cities
- Too close to call. Oklahoma City, OK. Renting is ahead by $3k.
- Renting. Tulsa, OK. Renting comes out ahead by $7k.
- Renting. Norman, OK. Renting comes out ahead by $20k.
- Renting. Broken Arrow, OK. Renting comes out ahead by $15k.
- Buying. Lawton, OK. Buying comes out ahead by $17k.
- Buying. Moore, OK. Buying comes out ahead by $8k.
- Buying. Midwest City, OK. Buying comes out ahead by $17k.
- Buying. Enid, OK. Buying comes out ahead by $22k.
- Renting. Stillwater, OK. Renting comes out ahead by $27k.