Rent vs buy in Kirkland, WA
In Kirkland, Washington, the typical rent is $2,619 /mo and the typical home is $1,154,450.
Renting comes out ahead by $218k over 7 years
Kirkland's typical rent and home value, 20% down, today's mortgage rate. Break-even point: year 27.
An opinion, clearly labelled, with the math shown. These are estimates, not quotes. The stamp updates when you change a number.
- Rent leads by
- $218k after 7 years
- When costs balance
- Year 27 when owning catches up
- Real cost to own
- Monthly $9,668 year 1, against $2,619 rent
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The stamp relies on the typical rent and home value for Kirkland's market. Your own rent, price and years can change the result.
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In Kirkland, is renting or buying cheaper?
Renting costs $217,637 less over 7 years, including the money you get back when you sell. For the first 26 years, renting costs less. Buying catches up in year 27.
Rent option. Buy option. The net cost so far, year by year.
Kirkland's average rent compared with its mortgage payment
Rent and the mortgage don't tell the whole story. At Kirkland's typical price, here are all monthly costs for year 1.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $2,619 | All of it, every month |
| Mortgage payment | $6,294 | $5,548 of it is interest in year 1 |
| Property tax | $693 | 0.72% of the value a year |
| Insurance | $108 | Census median for the city |
| Upkeep | $962 | 1% of the value a year |
| Owning, cash out | $8,057 | $746 of it builds equity |
| Lost return on the down payment | $1,876 | Cash return at 8.3% a year |
| Buying costs, spread out | $481 | 3.5% of the price over 7 years |
| True cost of owning | $9,668 | Cash paid, minus equity, plus both lines listed above. |
Kirkland verdict: the numbers used
- Typical home valueZillow ZHVI, September 2026
- $1,154,450
- Typical rentZillow ZORI, September 2026
- $2,619 /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, Washington, 1995 to 2025
- 5.3% 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, Kirkland
- 0.72% of value
- Home insuranceCensus ACS 2020-2024, Kirkland
- $108 /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 result in Kirkland?
In Kirkland, the 7-year verdict changes at the point shown on each line, and everything else stays as it is.
When renting wins
- Home prices grow at less than 7.4% a year (5.3% is Washington's long-run rate, which we use).
- The rate on a mortgage stays above 3.85%.
- Monthly rent for a similar home is under $4,950 (typical here: $2,619).
- Your move happens before year 27.
Buying comes out ahead when
- Home prices grow at a rate above 7.4% a year.
- A mortgage rate under 3.85% is locked in (today's is 7.24%).
- The same home would cost more than $4,950 a month to rent.
- You remain there for 27 years or more.
How Kirkland compares with the other 812 cities
| Measure | Kirkland | Median city |
|---|---|---|
| Typical home value | $1,154,450 | $422,451 |
| Typical rent | $2,619 /mo | $1,837 /mo |
| Price-to-rent ratio | 36.7 (#23 of 813) | 18.5 |
| Home prices, last 10 years | 7.3% a year | 6.2% a year |
| Rents, last 5 years | 3.5% a year | 4% a year |
| Property tax | 0.72% | 0.87% |
| Households that rent | 39% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
More cities in Washington
- In Seattle, WA, renting wins by $128k.
- In Spokane, WA, renting wins by $26k.
- In Tacoma, WA, renting wins by $41k.
- In Vancouver, WA, renting wins by $39k.
- In Bellevue, WA, renting wins by $294k.
- In Kent, WA, renting wins by $83k.
- In Everett, WA, renting comes out ahead by $77k.
- Renting comes out ahead by $30k in Spokane Valley, WA.
- Rent. Renton, WA. Renting is ahead by $92k.
- Rent. Federal Way, WA. Renting is ahead by $61k.
- Rent. Yakima, WA. Renting is ahead by $27k.
- In Bellingham, WA, renting wins by $85k.