Rent vs buy in Enid, OK
In Enid, Oklahoma, the typical rent is $1,122 each month, and the typical home value is $135,534.
For 7 years, buying comes out ahead by $22k.
Today's mortgage rate is used with Enid's typical rent and home value and a 20% down payment. You break even in year 4.
Clearly labelled opinion, with the math shown. These are estimates, not quotes. If you change a number, the stamp changes with it.
- Owning is ahead by
- $22k after 7 years
- The break-even point
- year 4 when owning catches up
- What owning actually costs
- $1,299 /mo year 1, against $1,122 rent
Change my numbers
The stamp draws on Enid's figures for typical rent and home value. Your rent, price, or years can change the result.
Do your numbers differ from the city's?
Put in your own numbers: rent, price and down payment. Your entries change the stamp.
In Enid, is renting or buying less expensive?
Across 7 years, buying costs $21,940 less once you include the money returned when you sell. In year 4, owning's net cost falls below renting's and remains lower.
Renting. Owning. Net cost through each year.
In Enid, average rent compared with the mortgage payment
The rent and the mortgage tell only part of the story. Here is the full list of monthly costs for year 1, priced at Enid's typical price.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,122 | All of it, every month |
| Mortgage payment | $739 | $651 of it is interest in year 1 |
| Property tax | $106 | 0.94% of the value a year |
| Insurance | $152 | Census median for the city |
| Upkeep | $113 | 1% of the value a year |
| Owning, cash out | $1,110 | $88 of it builds equity |
| Lost return on the down payment | $220 | The amount your cash would earn at 8.3% yearly |
| Buying costs, spread out | $56 | 3.5% of the price over 7 years |
| True cost of owning | $1,299 | The total is cash out, minus the equity portion, plus the two lines mentioned previously. |
The numbers behind Enid's verdict
- The typical home value comes from the Zillow ZHVI, September 2026 source.
- $135,534
- The typical rent comes from the Zillow ZORI, September 2026 source.
- $1,122 each month
- With a 20% down payment, private mortgage insurance is avoided, but the engine does not model it.
- 20%
- The mortgage rate comes from the Freddie Mac Primary Mortgage Market Survey, FRED MORTGAGE30US series.
- 7.24%
- Home price growth, from the FHFA house price index for Oklahoma, 1995 to 2025
- Each year: 4%
- Rent growth, from CPI rent of primary residence showing yearly growth, 2006 to 2026
- Each year: 3.5%
- Savings return60% S&P 500 with dividends plus 40% 10-year Treasuries, rebalanced each year, 1928 to 2025
- A yearly rate of 8.3%
- Property taxCensus data: ACS 2020-2024, Enid
- 0.94% of the value
- Home insuranceCensus data: ACS 2020-2024, Enid
- $152 a month
- UpkeepFannie Mae, at the low end of 1% to 4%
- Value times 1% each year
- Costs of buyingFreddie Mac, at the middle of 2% to 5%
- Price times 3.5%
- Selling costsAgent commission and closing costs
- 6% of the price
What could change the Enid result?
Every line shows the point at which the 7-year verdict in Enid changes, and everything else stays as it is.
Renting is ahead when
- Growth in home prices stays under 1.8% a year (we use 4%, based on Oklahoma's long-run trend).
- The mortgage rate remains higher than 10.08%.
- A similar home rents for under $890 a month (the typical rate here is $1,122).
- Before year 4, you move.
Buying comes out ahead when
- Home prices grow by more than 1.8% a year.
- You secure a mortgage rate under 10.08% (today's is 7.24%).
- The same home would cost more than $890 a month to rent.
- You remain there for 4 years or more.
How Enid compares with the other 812 cities
| Measure | Enid | Median city |
|---|---|---|
| Typical home value | $135,534 | $422,451 |
| Typical rent | $1,122 /mo | $1,837 /mo |
| Price-to-rent ratio | 10.1 (#787 of 813) | 18.5 |
| Home prices, last 10 years | 2.9% a year | 6.2% a year |
| Property tax | 0.94% | 0.87% |
| Households that rent | 39% | 42% |
Sources listed: Zillow ZHVI and ZORI, Census ACS 2020-2024.
Cities besides Enid in Oklahoma
- Toss-up. In Oklahoma City, OK it's a toss-up, with renting ahead by $3k.
- Rent. In Tulsa, OK, renting wins by $7k.
- Rent. In Norman, OK, renting wins by $20k.
- Buy. In Moore, OK, buying wins by $8k.
- Rent. Renting comes out ahead by $27k in Stillwater, OK.