Rent vs buy in El Monte, CA
For El Monte, California, the typical rent is $2,451 /mo and typical home value is $752,488.
Renting saves you $74k over 7 years
Today's mortgage rate and a 20% down payment are assumed. The inputs are El Monte's typical home value and rent. You reach the break-even point in year 14.
A clearly marked opinion with the math included. The figures are estimates, not quotes. Adjust a number and the stamp updates.
- Renting leads by
- $74k after 7 years
- Break-even point
- year 14 when owning catches up
- Full cost of ownership
- $6,316 /mo year 1, against $2,451 rent
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In El Monte, is renting or buying cheaper?
Over 7 years, renting costs $73,671 less, including the money you get back when you sell. For the first 13 years, renting costs less. By year 14, owning catches up.
Renting. Owning. Net cost to date, by year.
El Monte: average rent vs mortgage payment
Rent, the mortgage and every other monthly cost in year 1 appear here at El Monte's typical price.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $2,451 | All of it, every month |
| Mortgage payment | $4,103 | $3,616 of it is interest in year 1 |
| Property tax | $458 | 0.73% of the value a year |
| Insurance | $78 | Census median for the city |
| Upkeep | $627 | 1% of the value a year |
| Owning, cash out | $5,265 | $486 of it builds equity |
| Lost return on the down payment | $1,223 | What the cash would earn each year at 8.3% |
| Buying costs, spread out | $314 | 3.5% of the price over 7 years |
| True cost of owning | $6,316 | Cash paid out, minus the equity portion, plus the two amounts listed above |
The El Monte verdict in numbers
- Typical home valueZillow ZHVI, September 2026
- $752,488
- Typical rentZillow ZORI, September 2026
- $2,451 /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, El Monte
- 0.73% of value
- Home insuranceCensus ACS 2020-2024, El Monte
- $78 /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 change in El Monte would flip it?
Each line marks where the 7-year verdict for El Monte changes, while all other factors stay the same.
You come out ahead by renting if
- Home price growth stays below 6.4% a year. We apply California's long-run rate of 5.3%.
- The mortgage rate remains above 5.50%.
- For a similar home, the monthly rent is under $3,240. Here, the typical amount is $2,451.
- Your move comes before year 14.
Buying is better when
- Home values rise by more than 6.4% each year.
- A mortgage rate under 5.50% is locked in. Today's rate is 7.24%.
- The same home would cost more than $3,240 a month to rent.
- You remain there for 14 years or longer.
How El Monte compares with the other 812 cities
| Measure | El Monte | Median city |
|---|---|---|
| Typical home value | $752,488 | $422,451 |
| Typical rent | $2,451 /mo | $1,837 /mo |
| Price-to-rent ratio | 25.6 (#127 of 813) | 18.5 |
| Home prices, last 10 years | 6.2% a year | 6.2% a year |
| Property tax | 0.73% | 0.87% |
| Households that rent | 60% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
California: other cities
- Renting wins with a $111k advantage in Los Angeles, CA.
- Renting wins with a $108k advantage in San Diego, CA.
- Renting wins with a $210k advantage in San Jose, CA.
- Renting wins with a $128k advantage in San Francisco, CA.
- Buying wins with a $22k advantage in Fresno, CA.