Rent vs buy in El Paso, TX
In El Paso, Texas, typical rent is $1,508 /mo, while a typical home costs $237,556.
Over 7 years, the difference is $2,224, making it a toss-up.
It works from the typical rent and home value for El Paso's market, with a 20% down payment and today's mortgage rate. It reaches break-even in year 7.
A clearly labeled opinion with the math shown. These are estimates, not quotes. If you change a number, the stamp will change.
- Gap
- $2k after 7 years
- The break-even point
- Year 7 when owning catches up
- Owning's true cost
- $2,324 each month year 1, against $1,508 rent
Change my numbers
The stamp's starting point is the typical rent and home value for El Paso's market. Your rent, price and years can flip the result.
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Enter a rent, price and down payment of your own. The stamp changes whenever those figures change.
Is it cheaper to rent or buy in El Paso?
Small changes decide the result because, over 7 years, the two paths land within $2,224. In year 7, owning's net cost falls below renting's and remains lower.
Rent. Buy. Running net cost by year.
In El Paso, average rent vs mortgage payment
Year 1 includes every monthly cost at El Paso's typical price, not just rent and the mortgage.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,508 | All of it, every month |
| Mortgage payment | $1,295 | $1,142 of it is interest in year 1 |
| Property tax | $404 | 2.04% of the value a year |
| Insurance | $96 | Census median for the city |
| Upkeep | $198 | 1% of the value a year |
| Owning, cash out | $1,993 | $154 of it builds equity |
| Lost return on the down payment | $386 | What the cash would earn yearly at 8.3% |
| Buying costs, spread out | $99 | 3.5% of the price over 7 years |
| True cost of owning | $2,324 | Cash paid out, minus the equity portion, plus the two lines above |
The El Paso verdict, explained by the numbers
- Typical home value Zillow ZHVI, September 2026
- $237,556
- Typical rent Zillow ZORI, September 2026
- $1,508 /mo
- The engine doesn't model private mortgage insurance, which a 20% down payment avoids.
- 20%
- The mortgage rate comes from Freddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US).
- 7.24%
- Return on savings60% in the S&P 500, with dividends, and 40% in 10-year Treasuries, rebalanced each year, 1928 to 2025
- Each year: 8.3%
- Property tax data from Census ACS 2020-2024, El Paso
- Value times 2.04%
- Maintenance costs from Fannie Mae, using the low end of the 1% to 4% range
- 1% of the value each year
- Selling costsAgent commission and closing costs
- 6% of the price
What would change the verdict in El Paso?
Each line marks where El Paso's 7-year verdict changes while all other assumptions stay the same.
Renting comes out ahead when
- Home prices rise at less than 4.6% a year (our figure: 4.7%, Texas's long-run average).
- The mortgage rate remains above 7.41%.
- A comparable home rents below $1,480 monthly (typical here: $1,508).
- Moving before year 7.
Buying comes out ahead when
- Home prices rise by more than 4.6% a year.
- You secure a mortgage rate under 7.41% (today's is 7.24%).
- You would pay over $1,480 each month to rent the same home.
- You stay for 7 years or more.
El Paso compared with the other 812 cities
| Measure | El Paso | Median city |
|---|---|---|
| Typical home value | $237,556 | $422,451 |
| Typical rent | $1,508 /mo | $1,837 /mo |
| Price-to-rent ratio | 13.1 (#719 of 813) | 18.5 |
| Home prices, last 10 years | 5.8% a year | 6.2% a year |
| Rents, last 5 years | 5.2% a year | 4% a year |
| Property tax | 2.04% | 0.87% |
| Households that rent | 39% | 42% |
Data comes from Zillow ZHVI and ZORI, Census ACS 2020-2024.
More cities in Texas
- Toss-up. Houston, TX. Renting leads by $2k, so the result is a toss-up.
- Rent. San Antonio, TX. Renting has a $10k advantage.
- Rent. Dallas, TX. Renting has a $20k advantage.
- Rent. Fort Worth, TX. Renting has a $17k advantage.
- Rent. Austin, TX. Renting has a $111k advantage.
- Rent. Arlington, TX. Renting has a $34k advantage.
- Buying is favored in Corpus Christi, TX, with a $4k lead.
- Renting is favored in Plano, TX, with a $105k lead.
- Toss-up in Lubbock, TX: buying leads by $2k.
- Renting is favored in Laredo, TX, with a $20k lead.
- Renting is favored in Irving, TX, with a $36k lead.
- Choose Rent. Garland, TX. Renting holds a $12k lead.