Rent vs buy in Grand Prairie, TX
In Grand Prairie, Texas, typical rent is $1,673 /mo and typical home value is $312,607.
Renting comes out ahead by $20k over 7 years
Today's mortgage rate is used, with 20% down, alongside Grand Prairie's typical rent plus its home value. You reach break-even in year 12.
An opinion, clearly labelled, with its math shown. Don't treat these numbers as quotes; they're estimates. The stamp updates whenever you change a number.
- Renting is ahead by
- $20k after 7 years
- Break-even point
- year 12 when owning catches up
- Actual cost of ownership
- $3,001 /mo year 1, against $1,673 rent
Change my numbers
Its figures come from Grand Prairie's typical home value and typical rent. Your rent, price and time period can change the result.
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Enter the rent, price and down payment you want. Each of those entries changes the stamp.
Is it cheaper to rent or buy in Grand Prairie?
Over 7 years, renting costs $20,062 less when you count the money you get back after selling. For the first 11 years, renting costs less. In year 12, owning catches up with renting.
Renting. Home ownership. Year-by-year net cost.
In Grand Prairie, average rent vs mortgage payment
At Grand Prairie's typical price, the rent and the mortgage payment aren't the whole story, so here are all the monthly costs in year 1.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,673 | All of it, every month |
| Mortgage payment | $1,704 | $1,502 of it is interest in year 1 |
| Property tax | $438 | 1.68% of the value a year |
| Insurance | $162 | Census median for the city |
| Upkeep | $261 | 1% of the value a year |
| Owning, cash out | $2,564 | $202 of it builds equity |
| Lost return on the down payment | $508 | Annual cash earnings at 8.3% |
| Buying costs, spread out | $130 | 3.5% of the price over 7 years |
| True cost of owning | $3,001 | Equity is deducted from cash out, then both listed lines are added. |
Figures behind the Grand Prairie verdict
- Typical home valueZillow ZHVI, September 2026
- $312,607
- Typical rentZillow ZORI, September 2026
- $1,673 /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, Grand Prairie
- 1.68% of value
- Home insuranceCensus ACS 2020-2024, Grand Prairie
- $162 /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 would reverse the result in Grand Prairie?
Each line shows when the 7-year result in Grand Prairie changes, while everything else stays the same.
Renting comes out ahead when
- Home prices rise by less than 5.5% each year. We use 4.7%, based on Texas's long-run rate.
- The rate on the mortgage stays above 6.10%.
- Monthly rent for a home like this is less than $1,890 (typical here: $1,673).
- Before year 12, you move.
When buying comes out ahead
- Home prices rise by more than 5.5% a year.
- A mortgage rate under 6.10% is what you lock in (today's is 7.24%).
- You would pay more than $1,890 a month to rent the same home.
- You remain 12 years or longer.
How Grand Prairie compares with the other 812 cities
| Measure | Grand Prairie | Median city |
|---|---|---|
| Typical home value | $312,607 | $422,451 |
| Typical rent | $1,673 /mo | $1,837 /mo |
| Price-to-rent ratio | 15.6 (#591 of 813) | 18.5 |
| Home prices, last 10 years | 6.5% a year | 6.2% a year |
| Rents, last 5 years | 1.8% a year | 4% a year |
| Property tax | 1.68% | 0.87% |
| Households that rent | 41% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
Cities elsewhere in Texas
- Toss-up: Houston, TX. Renting leads by $2k.
- Rent: San Antonio, TX. Renting leads by $10k.
- Rent: Dallas, TX. Renting leads by $20k.
- Rent: Fort Worth, TX. Renting leads by $17k.
- Rent: Austin, TX. Renting leads by $111k.
- Rent: Arlington, TX. Renting leads by $34k.