Rent vs buy in Hampton, VA
In Hampton, Virginia, the typical rent is $1,690 /mo and the typical home is $279,178.
Buying comes out ahead by $18k over 7 years
Starting inputs are Hampton's typical rent and home value, a 20% down payment and the current mortgage rate. Year 5 is the break-even point.
An opinion, clearly labeled, with the math shown. These are estimates, not quotes. Change any number and the stamp updates.
- Ownership leads by
- $18k after 7 years
- Break-even point
- In year 5 when owning catches up
- Actual cost of ownership
- $2,471 monthly year 1, against $1,690 rent
Change my numbers
The stamp takes two figures: Hampton's typical rent and typical home value. The stamp can flip when your rent, price or years change.
Do your numbers differ from the city's?
Enter the rent, price and down payment you want to use. Those figures change the stamp.
Is it cheaper to rent or buy in Hampton?
Over 7 years, buying costs $17,783 less once you count the money you get back when you sell. Owning's net cost falls below renting's in year 5 and remains lower.
The choice is renting. Cost of owning. The net cost so far, shown by year.
Hampton's average rent compared with its mortgage payment
Rent and the mortgage don't tell the whole story. Here's every monthly cost for year 1, using Hampton's typical price.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,690 | All of it, every month |
| Mortgage payment | $1,522 | $1,342 of it is interest in year 1 |
| Property tax | $221 | 0.95% of the value a year |
| Insurance | $106 | Census median for the city |
| Upkeep | $233 | 1% of the value a year |
| Owning, cash out | $2,082 | $180 of it builds equity |
| Lost return on the down payment | $454 | At 8.3% a year, this is what the cash would earn. |
| Buying costs, spread out | $116 | 3.5% of the price over 7 years |
| True cost of owning | $2,471 | Subtract the equity part from cash out, then add the two lines above. |
The figures behind Hampton's verdict
- Typical home valueZillow ZHVI, September 2026
- $279,178
- Typical rentZillow ZORI, September 2026
- $1,690 /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, Virginia, 1995 to 2025
- 4.6% 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, Hampton
- 0.95% of value
- Home insuranceCensus ACS 2020-2024, Hampton
- $106 /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 Hampton result?
The 7-year verdict for Hampton changes at the point shown on each line, with everything else unchanged.
Renting comes out ahead when
- Home prices rising by less than 3.8% each year is the trigger. Our 4.6% figure reflects Virginia's rate over the long run.
- The mortgage rate remains over 8.36%.
- A similar home rents for under $1,500 monthly. The typical amount here is $1,690.
- Your move happens before year 5.
Buying comes out ahead when
- Home prices rise by more than 3.8% each year.
- You lock in a mortgage rate under 8.36%. Today's rate is 7.24%.
- If you rented the same home, it would cost you more than $1,500 each month.
- You stay for 5 years or more.
Hampton compared with the other 812 cities
| Measure | Hampton | Median city |
|---|---|---|
| Typical home value | $279,178 | $422,451 |
| Typical rent | $1,690 /mo | $1,837 /mo |
| Price-to-rent ratio | 13.8 (#690 of 813) | 18.5 |
| Home prices, last 10 years | 5.7% a year | 6.2% a year |
| Rents, last 5 years | 4.2% a year | 4% a year |
| Property tax | 0.95% | 0.87% |
| Households that rent | 43% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
Other Virginia cities
- Rent. Renting wins by $9k in Virginia Beach, VA.
- Rent. Renting wins by $12k in Chesapeake, VA.
- Rent. In Richmond, VA, renting wins by $24k.
- Buy. Buying wins by $6k in Norfolk, VA.
- Toss-up. Buying is ahead by $2k in Newport News, VA.
- Renting is cheaper. Alexandria, VA. Rent comes out ahead by $106k.
- Too close to call. Suffolk, VA. Renting comes out ahead by $1k.
- Rent. In Roanoke, VA, renting wins by $10k.
- Buy. In Portsmouth, VA, buying wins by $18k.
- Rent. In Lynchburg, VA, renting wins by $8k.
- Rent. In Harrisonburg, VA, renting wins by $5k.