Rent vs buy in Killeen, TX
In Killeen, Texas, the typical rent is $1,259 /mo and the typical home is $217,130.
Over 7 years, the difference is $1,868, so it's a toss-up.
Today's mortgage rate is paired with 20% down and Killeen's typical rent and home value. The break-even point is year 8.
An opinion, clearly marked with the math shown. These are estimates, not quotes. Edit any number and the stamp updates.
- Gap
- $2k after 7 years
- Break-even point
- year 8 when owning catches up
- Actual cost of owning
- $2,053 /mo year 1, against $1,259 rent
Change my numbers
Killeen's typical figures for rent and home value feed the stamp. Your choice of rent, price and years can flip the result.
Do your numbers differ from the city's?
Enter your own rent, home price and down payment. Each figure changes the stamp.
Is it cheaper to rent or buy in Killeen?
Small changes decide it: over 7 years the two paths end within $1,868 of each other. For the first 7 years, renting costs less. By year 8, owning catches up.
Renting Owning Net cost through each year
Comparing average rent with mortgage payments in Killeen
The rent and the mortgage don't tell the whole story. Here are all the monthly costs for year 1 at Killeen's typical price.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,259 | All of it, every month |
| Mortgage payment | $1,184 | $1,043 of it is interest in year 1 |
| Property tax | $275 | 1.52% of the value a year |
| Insurance | $110 | Census median for the city |
| Upkeep | $181 | 1% of the value a year |
| Owning, cash out | $1,750 | $140 of it builds equity |
| Lost return on the down payment | $353 | Annual earnings on the cash at 8.3% |
| Buying costs, spread out | $90 | 3.5% of the price over 7 years |
| True cost of owning | $2,053 | Cash out, minus the equity portion, plus the two amounts listed above |
The figures behind Killeen's result
- Typical value of a home: Zillow ZHVI, September 2026
- $217,130
- The typical rentZillow ZORI, September 2026
- Per month: $1,259 /mo
- A 20% down payment avoids private mortgage insurance. The engine does not model that insurance.
- 20%
- Mortgage rate source: Freddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Growth in home prices: FHFA house price index, Texas, 1995 to 2025
- Each year: 4.7%
- Annual rent growth: CPI rent of primary residence, 2006 to 2026
- Each year: 3.5%
- Return on savings: 40% 10-year Treasuries; 60% S&P 500 with dividends, rebalanced yearly, 1928 to 2025
- Each year: 8.3%
- Property tax details: Census ACS 2020-2024, Killeen
- Tax equals 1.52% of value
- Home insurance: Census ACS 2020-2024, Killeen
- Monthly cost: $110
- Maintenance costs: Fannie Mae, low end of 1% to 4%
- Each year: 1% of value
- Cost of buying: Freddie Mac, midpoint of 2% to 5%
- 3.5% of that price
- Selling expenses: Agent commission plus closing costs
- 6% of the price
What would make the Killeen result flip?
Each line shows the point where the 7-year verdict changes for Killeen, and all the other inputs stay as they are.
Renting comes out ahead when
- Home prices grow by less than 4.8% a year; the figure we use, 4.7%, is Texas's rate over the long run.
- The rate on a mortgage stays above 7.09%.
- A similar home rents for under $1,280 a month (the local typical rent is $1,259).
- Moving happens before year 8.
Buying comes out ahead when
- Home prices rise by more than 4.8% a year.
- You lock in a mortgage rate under 7.09% (today's is 7.24%).
- You would pay more than $1,280 each month to rent the same home.
- You remain for 8 years or more.
How Killeen compares with 812 other cities
| Measure | Killeen | Median city |
|---|---|---|
| Typical home value | $217,130 | $422,451 |
| Typical rent | $1,259 /mo | $1,837 /mo |
| Price-to-rent ratio | 14.4 (#662 of 813) | 18.5 |
| Home prices, last 10 years | 5.9% a year | 6.2% a year |
| Rents, last 5 years | 2% a year | 4% a year |
| Property tax | 1.52% | 0.87% |
| Households that rent | 51% | 42% |
Data from: Zillow ZHVI and ZORI, Census ACS 2020-2024.
More cities in Texas
- Toss-up. Houston, TX data. Renting leads by $2k.
- Rent. San Antonio, TX data. Renting leads by $10k.
- Rent. Dallas, TX results. Renting comes out ahead by $20k.
- Rent. Fort Worth, TX results. Renting comes out ahead by $17k.
- Rent. Austin, TX results. Renting comes out ahead by $111k.
- Toss-up. El Paso, TX results. It's a toss-up, with buying ahead by $2k.
- Rent. Arlington, TX results. Renting comes out ahead by $34k.
- Buy. Corpus Christi, TX results. Buying comes out ahead by $4k.
- Rent. Plano, TX results. Renting comes out ahead by $105k.
- Toss-up. Lubbock, TX results. It's a toss-up, with buying ahead by $2k.
- The verdict is Rent. Renting wins by $20k in Laredo, TX.
- The verdict is Rent. Renting wins by $36k in Irving, TX.