Rent vs buy in Irving, TX
In Irving, Texas, the typical rent is $1,595 /mo and the typical home costs $337,610.
Renting costs $36k less over 7 years
At Irving's usual rent and home value, plus 20% down at today's mortgage rate. Break-even lands in year 16.
Opinion, clearly labeled, with the math shown. These are estimates, not quotes. Adjust one number and the stamp will change.
- Renting is ahead by
- $36k after 7 years
- Break-even point
- year 16 when owning catches up
- Actual cost of owning
- $3,185 /mo year 1, against $1,595 rent
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The stamp takes Irving's usual rent and home value as its base. The stamp can flip when you change your rent, price or years.
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Is it cheaper to rent or buy in Irving?
Renting costs $36,141 less over 7 years, including the money you get back when you sell. For the first 15 years, renting costs less. In year 16, owning catches up.
Renting costs. Owning costs. Net cost by year so far.
Average rent compared with mortgage payment in Irving
Rent and the mortgage don't tell the whole story. Here are all the monthly costs for year 1, using Irving's typical price.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,595 | All of it, every month |
| Mortgage payment | $1,841 | $1,622 of it is interest in year 1 |
| Property tax | $425 | 1.51% of the value a year |
| Insurance | $167 | Census median for the city |
| Upkeep | $281 | 1% of the value a year |
| Owning, cash out | $2,714 | $218 of it builds equity |
| Lost return on the down payment | $549 | What the cash would earn each year at 8.3% |
| Buying costs, spread out | $141 | 3.5% of the price over 7 years |
| True cost of owning | $3,185 | Cash out, take away the equity part, then add the two lines above. |
The Irving verdict in numbers
- Typical home valueZillow ZHVI, September 2026
- $337,610
- Typical rentZillow ZORI, September 2026
- $1,595 /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, Irving
- 1.51% of value
- Home insuranceCensus ACS 2020-2024, Irving
- $167 /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 flip the Irving verdict?
For every line, the 7-year verdict in Irving changes there, with everything else left as it is.
Renting comes out ahead when
- Home prices rise more slowly than 6.0% a year (Texas's long-run rate, 4.7%, is the figure we use).
- The mortgage rate remains above 5.33%.
- For this kind of property, renting costs less than $1,980 a month, while the local typical figure is $1,595.
- You move before year 16 comes around.
When buying wins
- Home prices rise by more than 6.0% a year.
- You secure a mortgage rate under 5.33% (today's is 7.24%).
- You would pay over $1,980 each month to rent the same home.
- You remain in the home for 16 years or more.
How Irving compares with the other 812 cities
| Measure | Irving | Median city |
|---|---|---|
| Typical home value | $337,610 | $422,451 |
| Typical rent | $1,595 /mo | $1,837 /mo |
| Price-to-rent ratio | 17.6 (#454 of 813) | 18.5 |
| Home prices, last 10 years | 6.2% a year | 6.2% a year |
| Rents, last 5 years | 1.6% a year | 4% a year |
| Property tax | 1.51% | 0.87% |
| Households that rent | 62% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
More cities across Texas
- Toss-up. Houston, TX. Renting is $2k ahead.
- Rent. San Antonio, TX. Renting comes out ahead by $10k.
- Rent. Dallas, TX. You save $20k by renting.
- Rent. Fort Worth, TX. Renting wins out by $17k.
- Rent. Austin, TX. Renting is $111k ahead.
- Toss-up. El Paso, TX. Buying is $2k ahead.
- Rent. Arlington, TX. You save $34k by renting.
- Buy. Corpus Christi, TX. Buying is $4k ahead.
- Rent. Plano, TX. Renting comes out ahead by $105k.
- Toss-up. Lubbock, TX. Buying is $2k ahead.
- Rent. Laredo, TX. Renting is $20k ahead.
- Rent. Garland, TX. Renting wins out by $12k.