Rent vs buy in Kent, WA
In Kent, Washington, the typical rent is $1,958 /mo and the typical home value is $630,799.
Renting saves $83k over 7 years
A 20% down payment and today's mortgage rate, plus Kent's typical rent and home value. Year 18 marks the break-even point.
Opinion, clearly labelled, with the math shown. These are estimates, not quotes. Change any number and the stamp will change.
- Renting leads by
- $83k after 7 years
- Break-even point
- year 18 when owning catches up
- Actual ownership cost
- Per month: $5,427 year 1, against $1,958 rent
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The stamp draws on Kent's typical figures for rent and home value. Your rent, price and years can flip the result.
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Is it cheaper to rent or buy in Kent?
Across 7 years, renting comes out $83,464 cheaper, including the money returned when you sell. For the first 17 years, renting costs less. By year 18, owning has caught up.
Rent option. Ownership option. Net cost to date, by year.
How Kent's average rent compares with its mortgage payment
Rent and the mortgage don't tell the whole story. At Kent's typical price, here are all the monthly costs in year 1.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,958 | All of it, every month |
| Mortgage payment | $3,439 | $3,031 of it is interest in year 1 |
| Property tax | $489 | 0.93% of the value a year |
| Insurance | $93 | Census median for the city |
| Upkeep | $526 | 1% of the value a year |
| Owning, cash out | $4,547 | $408 of it builds equity |
| Lost return on the down payment | $1,025 | What the cash would earn each year at 8.3% |
| Buying costs, spread out | $263 | 3.5% of the price over 7 years |
| True cost of owning | $5,427 | After subtracting the equity portion from cash out, add the two amounts above |
Kent's verdict in numbers
- Typical home value: Zillow ZHVI, September 2026
- $630,799
- Typical rent: Zillow ZORI, September 2026
- $1,958 each month
- A 20% down payment avoids private mortgage insurance. The engine doesn't model it.
- 20%
- Mortgage rate Freddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Washington, 1995 to 2025 Home price growth, FHFA house price index
- 5.3% each year
- Return on savings 40% 10-year Treasuries and 60% S&P 500, with dividends, rebalanced yearly, 1928 to 2025
- Annual rate: 8.3%
- Property tax Census ACS 2020-2024, Kent
- 0.93% of the value
- Home insurance Census ACS 2020-2024, Kent
- Per month: $93
- Maintenance Fannie Mae: low end of range, 1% to 4%
- Each year, 1% of value
- Buying costs Freddie Mac, middle value in the 2% to 5% range
- 3.5% of the purchase price
- Selling costs Agent commission plus closing costs
- 6% of the price
Which shifts would flip it in Kent?
Each line marks the point where the verdict in Kent over 7 years changes, with everything else staying the same.
Rent is the better choice in these cases
- Home prices grow under 6.8% a year; what we use is Washington's long-run rate of 5.3%.
- The mortgage rate remains above 4.88%.
- Here, a similar home rents for under $2,850 monthly (typical here: $1,958).
- Your move happens before year 18.
Owning is the better choice in these cases
- Home prices grow at more than 6.8% a year.
- Today's mortgage rate is 7.24%, and the rate you lock is under 4.88%.
- Monthly rent for the same home would exceed $2,850.
- You remain for 18 years or longer.
A city-by-city look at Kent and 812 others
| Measure | Kent | Median city |
|---|---|---|
| Typical home value | $630,799 | $422,451 |
| Typical rent | $1,958 /mo | $1,837 /mo |
| Price-to-rent ratio | 26.8 (#108 of 813) | 18.5 |
| Home prices, last 10 years | 6.5% a year | 6.2% a year |
| Rents, last 5 years | 2.4% a year | 4% a year |
| Property tax | 0.93% | 0.87% |
| Households that rent | 43% | 42% |
Data from: Zillow ZHVI and ZORI, Census ACS 2020-2024.
Other Washington cities
- Renting wins by $128k in Seattle, WA.
- Renting wins by $26k in Spokane, WA.
- Renting wins by $41k in Tacoma, WA.
- Renting wins by $39k in Vancouver, WA.
- Renting wins by $294k in Bellevue, WA.
- Renting wins by $77k in Everett, WA.
- Renting wins by $30k in Spokane Valley, WA.
- Renting wins by $92k in Renton, WA.
- Renting wins by $61k in Federal Way, WA.
- In Yakima, WA, renting comes out ahead by $27k.
- In Bellingham, WA, renting saves you $85k.
- In Kirkland, WA, renting wins by $218k.