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Rent vs buy in Johnson City, TN

In Johnson City, Tennessee, typical rent is $1,507 /mo and a typical home is $292,890.

Rent vs buy Johnson City verdict card: Buying comes out ahead by $4k across 7 years
Buy

Buying comes out ahead by $4k across 7 years

The figures use 20% down, today's mortgage rate and the typical rent and home value in Johnson City's market. The break-even point falls in year 7.

Clearly labeled opinion, with the math shown. These are estimates, not quotes. The stamp changes when you change a number.

How far ahead owning is
$4k
after 7 years
Break-even point
year 7
when owning catches up
Actual cost of owning
$2,505 /mo
year 1, against $1,507 rent

Change my numbers

The stamp relies on the typical rent and home value for Johnson City's market. Your rent, price and time period can change the result.

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In Johnson City, is it cheaper to rent or buy?

When you include the money you get back from selling, buying costs $4,498 less than renting over 7 years. In year 7, owning's net cost falls below renting's and remains lower.

Renting. Owning. Net cost by year so far.

$0$50k$100k$150k$200kyr 1yr 3yr 5yr 7yr 9yr 11yr 13yr 15

Average rent compared with the mortgage payment in Johnson City

Rent and the mortgage don't show every cost. Here are all monthly costs in year 1 using Johnson City's typical price.

Each month, year 1AmountWhat it is
Rent$1,507All of it, every month
Mortgage payment$1,597$1,407 of it is interest in year 1
Property tax$1590.65% of the value a year
Insurance$97Census median for the city
Upkeep$2441% of the value a year
Owning, cash out$2,097$189 of it builds equity
Lost return on the down payment$476Annual return on the cash at 8.3%
Buying costs, spread out$1223.5% of the price over 7 years
True cost of owning$2,505Cash out minus the equity part, plus the two amounts above

Figures that drove the Johnson City result

Typical home valueZillow ZHVI, September 2026
$292,890
Typical rentZillow ZORI, September 2026
$1,507 /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, Tennessee, 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, Johnson City
0.65% of value
Home insuranceCensus ACS 2020-2024, Johnson City
$97 /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 Johnson City result?

Each line shows where the 7-year verdict for Johnson City changes while all other factors stay the same.

Renting is cheaper when

  • If home prices grow slower than 4.5% each year, the result changes. Our calculation uses 4.7%, based on Tennessee's long-term rate.
  • A mortgage rate above 7.51% must continue.
  • The monthly rent for a home like this is less than $1,460 (typical here: $1,507).
  • Before year 7, you move.

Conditions that favor buying

  • Home prices rise by more than 4.5% a year.
  • You lock in a mortgage rate under 7.51% (right now it's 7.24%).
  • You would pay over $1,460 a month to rent the same home.
  • You remain for 7 years or longer.

Johnson City compared with the other 812 cities

MeasureJohnson CityMedian city
Typical home value$292,890$422,451
Typical rent$1,507 /mo$1,837 /mo
Price-to-rent ratio16.2 (#540 of 813)18.5
Home prices, last 10 years6.7% a year6.2% a year
Rents, last 5 years7.4% a year4% a year
Property tax0.65%0.87%
Households that rent49%42%

Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.

A look at other Tennessee cities

Tennessee rent vs buy: state numbers