Rent vs buy in Eugene, OR
The typical home in Eugene, Oregon costs $471,485, while typical rent is $1,795 /mo.
Renting comes out ahead by $49k over 7 years
Based on Eugene's typical rent and home value, it assumes 20% down and today's mortgage rate. You reach the break-even point in year 16.
Clearly labeled opinion, with the math shown. These are estimates, not quotes. The stamp changes when a number changes.
- Renting is ahead by
- $49k after 7 years
- Break-even point
- year 16 when owning catches up
- Actual cost of ownership
- $4,079 /mo year 1, against $1,795 rent
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Is it cheaper to rent or buy in Eugene?
When you count the money returned from selling, renting costs $49,465 less over 7 years. For the first 15 years, renting costs less. By year 16, owning catches up.
Renting costs. Owning costs. Net cost to date, broken down by year.
Average rent compared with a mortgage payment in Eugene
Rent and a mortgage payment don't tell the whole story, so here are all monthly costs for year 1 at Eugene's typical price.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,795 | All of it, every month |
| Mortgage payment | $2,571 | $2,266 of it is interest in year 1 |
| Property tax | $385 | 0.98% of the value a year |
| Insurance | $73 | Census median for the city |
| Upkeep | $393 | 1% of the value a year |
| Owning, cash out | $3,421 | $305 of it builds equity |
| Lost return on the down payment | $766 | At 8.3% a year, that is what the cash would earn. |
| Buying costs, spread out | $196 | 3.5% of the price over 7 years |
| True cost of owning | $4,079 | Cash out, minus the equity portion, plus the two lines above |
The figures behind Eugene's result
- Typical home valueZillow ZHVI, September 2026
- $471,485
- Typical rentZillow ZORI, September 2026
- $1,795 /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, Oregon, 1995 to 2025
- 4.9% 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, Eugene
- 0.98% of value
- Home insuranceCensus ACS 2020-2024, Eugene
- $73 /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 Eugene?
Each line marks the point where the 7-year verdict for Eugene changes; all other factors remain as they are.
Renting comes out ahead when
- Home prices grow by less than 6.1% each year, and the 4.9% we use comes from Oregon's long-run history.
- The mortgage rate remains over 5.37%.
- Renting a home like this costs less than $2,320 a month (the typical rent here is $1,795).
- Before year 16, you move.
Buying comes out ahead when
- Annual home price growth exceeds 6.1%.
- You lock a rate under 5.37% on the mortgage, and today's rate is 7.24%.
- Monthly rent for that home would cost you over $2,320.
- Your stay lasts 16 years or longer.
Eugene compared with the other 812 cities
| Measure | Eugene | Median city |
|---|---|---|
| Typical home value | $471,485 | $422,451 |
| Typical rent | $1,795 /mo | $1,837 /mo |
| Price-to-rent ratio | 21.9 (#251 of 813) | 18.5 |
| Home prices, last 10 years | 6.1% a year | 6.2% a year |
| Rents, last 5 years | 4.2% a year | 4% a year |
| Property tax | 0.98% | 0.87% |
| Households that rent | 52% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
More cities in Oregon
- In Portland, OR, renting wins by $82k.
- In Salem, OR, renting wins by $48k.
- In Gresham, OR, renting wins by $61k.
- In Hillsboro, OR, renting wins by $44k.
- In Bend, OR, renting wins by $93k.
- In Beaverton, OR, renting wins by $65k.
- In Medford, OR, renting wins by $19k.
- In Corvallis, OR, renting wins by $93k.
- In Springfield, OR, renting wins by $31k.
- In Tigard, OR, renting wins by $102k.
- In Albany, OR, renting wins by $39k.