Rent vs buy in Gallatin, TN
In Gallatin, Tennessee, typical rent is $1,719 /mo and the typical home is $436,321.
Renting comes out ahead by $36k over 7 years
Today's mortgage rate and 20% down are combined with Gallatin's typical rent and home value. The break-even point arrives in year 13.
Opinion, clearly labeled, with the math shown. These figures are estimates, not quotes. The stamp changes whenever you change a number.
- How much renting leads by
- $36k after 7 years
- Break-even point
- year 13 when owning catches up
- Actual cost of owning
- $3,660 /mo year 1, against $1,719 rent
Change my numbers
For Gallatin's calculation, the stamp uses its typical rent and home value. Your own rent, price and years can change the result.
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Enter your own down payment, price and rent. When those numbers change, the stamp changes too.
Which costs less in Gallatin, renting or buying?
Over 7 years, renting costs $35,799 less, including the money you get back when you sell. Renting costs less during the first 12 years. In year 13, owning catches up.
Renting has the edge. Owning has the edge. Net cost to date, arranged by year.
Comparing average rent with mortgage payments in Gallatin
Rent and mortgage payments aren't the whole story. The list includes every monthly cost for year 1 at Gallatin's typical price.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,719 | All of it, every month |
| Mortgage payment | $2,379 | $2,097 of it is interest in year 1 |
| Property tax | $196 | 0.54% of the value a year |
| Insurance | $112 | Census median for the city |
| Upkeep | $364 | 1% of the value a year |
| Owning, cash out | $3,051 | $282 of it builds equity |
| Lost return on the down payment | $709 | What the cash would earn yearly at 8.3% |
| Buying costs, spread out | $182 | 3.5% of the price over 7 years |
| True cost of owning | $3,660 | Cash paid out, minus the equity part, plus both lines above |
The figures behind Gallatin's result
- The typical value of a homeZillow ZHVI, September 2026
- $436,321
- The typical rentZillow ZORI, September 2026
- $1,719 per month
- Private mortgage insurance is avoided with 20% down, while the engine doesn't model it.
- 20%
- Mortgage rate source: Freddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Growth in home pricesFHFA house price index, Tennessee, 1995 to 2025
- Each year: 4.7%
- Yearly CPI rent growth for primary residence2006 to 2026
- Each year: 3.5%
- Savings return: 40% 10-year Treasuries and 60% S&P 500 with dividends, rebalanced yearly, 1928 to 2025
- Each year: 8.3%
- Property tax: Census ACS 2020-2024, Gallatin
- 0.54% of the property's value
- Home insurance: Census ACS 2020-2024, Gallatin
- Each month: $112
- Home upkeep costs: Fannie Mae, low end of 1% to 4%
- Each year, 1% of the value
- Purchase costs: Freddie Mac, middle of 2% to 5%
- Buying costs are 3.5% of the price.
- Sale expenses: Agent commission plus closing costs
- 6% applies to the price
Which changes would flip the verdict in Gallatin?
Every line below shows when the 7-year verdict for Gallatin changes, while all other inputs remain the same.
Renting costs less when
- Home prices rise by less than 5.7% a year; the rate we use is 4.7%, Tennessee's long-run pace.
- The rate on the mortgage holds above 5.78%.
- A comparable home rents for under $2,100 a month, while the local typical rent is $1,719.
- Your move happens before year 13.
When buying comes out ahead
- Home prices increase by more than 5.7% a year.
- You secure a mortgage rate under 5.78%, compared with today's rate of 7.24%.
- The monthly rent for the same home would exceed $2,100.
- You remain for at least 13 years.
How Gallatin compares with the other 812 cities
| Measure | Gallatin | Median city |
|---|---|---|
| Typical home value | $436,321 | $422,451 |
| Typical rent | $1,719 /mo | $1,837 /mo |
| Price-to-rent ratio | 21.2 (#285 of 813) | 18.5 |
| Home prices, last 10 years | 6.5% a year | 6.2% a year |
| Rents, last 5 years | 3.6% a year | 4% a year |
| Property tax | 0.54% | 0.87% |
| Households that rent | 43% | 42% |
Sources: Zillow data for ZHVI and ZORI, Census ACS 2020-2024.
More cities across Tennessee
- In Nashville, TN, renting wins by $24k.
- In Memphis, TN, buying wins by $36k.
- In Knoxville, TN, renting wins by $10k.
- In Chattanooga, TN, renting wins by $11k.
- In Clarksville, TN, renting wins by $19k.
- In Murfreesboro, TN, renting wins by $36k.
- In Franklin, TN, renting wins by $204k.
- In Johnson City, TN, buying wins by $4k.
- For Jackson TN, buying wins by $25k.
- Renting wins by $77k in Hendersonville TN.
- For Smyrna TN, renting wins by $19k.
- Renting wins by $45k in Spring Hill, TN.