Rent vs buy in Garland, TX
In Garland, Texas, the typical rent is $1,560 /mo and the typical home value is $280,515.
Renting comes out ahead by $12k over 7 years
Under Garland's typical rent and home value, the calculation uses 20% down and today's mortgage rate. Year 10 is when costs balance.
Clearly labelled opinion, with the math shown. Estimates, not quotes. Adjust any number, and the stamp updates.
- Ahead: renting
- $12k after 7 years
- When costs balance
- Year 10 when owning catches up
- Full ownership cost
- $2,687 per month year 1, against $1,560 rent
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Garland's typical rent and home value are the figures used by the stamp. Your rent, price and years can reverse the result.
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Enter your rent, price and down payment. Those entries change the stamp.
Is it cheaper to rent or buy in Garland?
Over 7 years, renting saves you $11,678 after counting the money you get back when you sell. Renting costs less during the first 9 years. By year 10, owning catches up.
Rental option. Ownership option. Cumulative net cost for each year.
In Garland, compare average rent with the mortgage payment.
Monthly costs for year 1 at Garland's typical price include more than rent and mortgage. Here's the full list.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,560 | All of it, every month |
| Mortgage payment | $1,529 | $1,348 of it is interest in year 1 |
| Property tax | $367 | 1.57% of the value a year |
| Insurance | $165 | Census median for the city |
| Upkeep | $234 | 1% of the value a year |
| Owning, cash out | $2,295 | $181 of it builds equity |
| Lost return on the down payment | $456 | How much the cash would earn each year at 8.3% |
| Buying costs, spread out | $117 | 3.5% of the price over 7 years |
| True cost of owning | $2,687 | Cash out minus the equity part, then add both entries above. |
Garland's verdict in numbers
- Typical home valueZillow ZHVI, September 2026
- $280,515
- Typical rentZillow ZORI, September 2026
- $1,560 /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, Texas, 1995 to 2025
- 4.7% 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, Garland
- 1.57% of value
- Home insuranceCensus ACS 2020-2024, Garland
- $165 /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 would flip the Garland result?
Each line marks the threshold where the verdict for Garland over 7 years changes. Every other factor stays as it is.
Renting comes out ahead when
- Annual home price growth stays below 5.2%. The calculation uses 4.7%, Texas's long-run rate.
- A mortgage rate above 6.50% stays in place.
- (The typical amount here is $1,560.) A similar home rents for under $1,690 each month.
- You move sometime before year 10.
When buying comes out ahead
- Home prices rise by more than 5.2% a year.
- Your mortgage rate is secured under 6.50%, while today's rate is 7.24%.
- If you rented the same home, the monthly cost would exceed $1,690.
- You stay 10 years or more.
How Garland compares with the other 812 cities
| Measure | Garland | Median city |
|---|---|---|
| Typical home value | $280,515 | $422,451 |
| Typical rent | $1,560 /mo | $1,837 /mo |
| Price-to-rent ratio | 15.0 (#624 of 813) | 18.5 |
| Home prices, last 10 years | 5.9% a year | 6.2% a year |
| Rents, last 5 years | 2.3% a year | 4% a year |
| Property tax | 1.57% | 0.87% |
| Households that rent | 38% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
More cities in Texas
- Toss-up. Houston, TX. Renting leads by $2k in this toss-up.
- Rent. San Antonio, TX. The $10k difference favors renting.
- Rent. Dallas, TX. The $20k advantage goes to renting.
- Rent. Fort Worth, TX. The $17k advantage goes to renting.
- Rent. Austin, TX. The $111k advantage goes to renting.
- Rent. Arlington, TX. The $34k advantage goes to renting.