Rent vs buy in Lacey, WA
For Lacey, Washington, the typical rent is $2,075 /mo and the typical home price $507,213.
Over 7 years, renting is ahead by $17k.
Today's mortgage rate and 20% down apply, based on Lacey's typical rent and home value. Break-even happens in year 9.
Opinion, clearly labelled, and the math is shown. Estimates, not quotes. Change any number and the stamp updates.
- Renting is ahead by
- $17k after 7 years
- Break-even point
- year 9 when owning catches up
- Real cost of owning
- $4,334 each month year 1, against $2,075 rent
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Is renting or buying cheaper in Lacey?
Over 7 years, renting costs $17,238 less, once you include the cash you get back from selling. For the first 8 years, renting costs less. In year 9, owning catches up.
Rent. Own. Net cost to date, by year.
Lacey: average rent vs mortgage payment
Rent and the mortgage don't tell the whole story. Here are all monthly costs at Lacey's typical price for year 1.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $2,075 | All of it, every month |
| Mortgage payment | $2,765 | $2,437 of it is interest in year 1 |
| Property tax | $351 | 0.83% of the value a year |
| Insurance | $87 | Census median for the city |
| Upkeep | $423 | 1% of the value a year |
| Owning, cash out | $3,626 | $328 of it builds equity |
| Lost return on the down payment | $824 | The amount the cash would earn yearly at 8.3% |
| Buying costs, spread out | $211 | 3.5% of the price over 7 years |
| True cost of owning | $4,334 | Cash paid, minus equity, plus both lines above |
The math behind the Lacey verdict
- Typical home valueZillow ZHVI, September 2026
- $507,213
- Typical rentZillow ZORI, September 2026
- $2,075 /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, Lacey
- 0.83% of value
- Home insuranceCensus ACS 2020-2024, Lacey
- $87 /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 change the outcome in Lacey?
Each line identifies the point at which Lacey's verdict for 7 years changes, while everything else stays as it is.
Renting comes out ahead when
- Home prices grow by less than 5.7% each year. Washington's long-run rate of 5.3% is the figure we use.
- The mortgage rate remains above 6.64%.
- A similar home rents for less than $2,260 each month (here the typical figure is $2,075).
- Your move happens before year 9.
Buying comes out ahead when
- Home prices rise by more than 5.7% each year.
- You lock in a mortgage rate under 6.64% (today's rate is 7.24%).
- The same home would rent for more than $2,260 a month.
- You remain there for 9 years or more.
How Lacey compares with the other 812 cities
| Measure | Lacey | Median city |
|---|---|---|
| Typical home value | $507,213 | $422,451 |
| Typical rent | $2,075 /mo | $1,837 /mo |
| Price-to-rent ratio | 20.4 (#317 of 813) | 18.5 |
| Home prices, last 10 years | 7.1% a year | 6.2% a year |
| Rents, last 5 years | 3.4% a year | 4% a year |
| Property tax | 0.83% | 0.87% |
| Households that rent | 44% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
Cities in Washington besides Lacey
- Rent. Seattle, WA. Renting comes out ahead by $128k.
- Rent. Spokane, WA. Renting comes out ahead by $26k.
- Rent. Tacoma, WA. Renting comes out ahead by $41k.
- Rent. Vancouver, WA. Renting comes out ahead by $39k.
- Rent. Bellevue, WA. Renting comes out ahead by $294k.
- Rent. Kent, WA. Renting comes out ahead by $83k.
- Rent. Everett, WA. Renting comes out ahead by $77k.
- Rent. Spokane Valley, WA. Renting comes out ahead by $30k.
- Rent. Renton, WA. Renting comes out ahead by $92k.
- Rent. Federal Way, WA. Renting comes out ahead by $61k.
- Rent. Yakima, WA. Renting comes out ahead by $27k.
- Rent. Bellingham, WA. Renting is ahead by $85k.