Rent vs buy in Kentwood, MI
In Kentwood, Michigan, the typical home is $332,257 and the typical monthly rent is $1,565.
Renting comes out ahead by $44k over 7 years
Today's mortgage rate and 20% down are paired with Kentwood's typical rent and home value. No break-even within 30 years.
Our clearly labeled opinion includes the math. The figures are estimates, not quotes. The stamp updates whenever a number changes.
- Renting leads by
- $44k after 7 years
- Break-even point
- 30+ years owning never catches up sooner
- Full cost of owning
- $2,964 /mo year 1, against $1,565 rent
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Kentwood's typical rent and home value form the basis of the stamp. Your rent, price and years can change the outcome.
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Is renting or buying cheaper in Kentwood?
Including the money you get back when you sell, renting costs $44,291 less over 7 years. In every year shown, renting's net cost remains lower, and owning does not catch up within 30 years.
The renting choice. The owning choice. Year-by-year net costs.
Average rent compared with mortgage payment in Kentwood
Rent and mortgage payments don't show all the costs, so here are all monthly expenses for year 1 at Kentwood's typical price.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,565 | All of it, every month |
| Mortgage payment | $1,811 | $1,597 of it is interest in year 1 |
| Property tax | $335 | 1.21% of the value a year |
| Insurance | $77 | Census median for the city |
| Upkeep | $277 | 1% of the value a year |
| Owning, cash out | $2,500 | $215 of it builds equity |
| Lost return on the down payment | $540 | Annual return on the cash: 8.3% |
| Buying costs, spread out | $138 | 3.5% of the price over 7 years |
| True cost of owning | $2,964 | Subtract equity from cash out, then add the two lines above. |
Numbers that explain the Kentwood verdict
- Typical home valueZillow ZHVI, September 2026
- $332,257
- Typical rentZillow ZORI, September 2026
- $1,565 /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, Michigan, 1995 to 2025
- 3.8% 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, Kentwood
- 1.21% of value
- Home insuranceCensus ACS 2020-2024, Kentwood
- $77 /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 Kentwood?
At each line, the 7-year verdict in Kentwood switches. All other parts remain unchanged.
Renting is cheaper when
- Home prices grow by less than 5.4% a year; the calculation uses 3.8%, Michigan's long-term rate.
- The mortgage rate holds above 4.86%.
- Renting a home like this costs less than $2,040 a month (the typical rent here is $1,565).
- If you move at any time during the next 30 years, owning still won't catch up at these figures.
When buying comes out ahead
- Home prices increase by more than 5.4% a year.
- You secure a mortgage rate under 4.86% (today's rate is 7.24%).
- The same home would cost you over $2,040 monthly to rent.
Kentwood compared with the other 812 cities
| Measure | Kentwood | Median city |
|---|---|---|
| Typical home value | $332,257 | $422,451 |
| Typical rent | $1,565 /mo | $1,837 /mo |
| Price-to-rent ratio | 17.7 (#448 of 813) | 18.5 |
| Home prices, last 10 years | 7.3% a year | 6.2% a year |
| Property tax | 1.21% | 0.87% |
| Households that rent | 39% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
More cities in Michigan
- Buying wins by $72k in Detroit, MI.
- Renting wins by $20k in Grand Rapids, MI.
- Buying wins by $7k in Warren, MI.
- Renting wins by $32k in Sterling Heights, MI.
- Renting wins by $124k in Ann Arbor, MI.
- Buying is ahead by $2k in a toss-up: Lansing, MI.
- Buying wins by $18k in Dearborn, MI.
- Renting wins by $26k in Livonia, MI.
- Renting wins by $89k in Troy, MI.
- Renting wins by $95k in Farmington Hills, MI.
- Renting wins by $7k in Westland, MI.
- Buying wins by $39k in Flint, MI.