Rent vs buy in Lawton, OK
In Lawton, Oklahoma, typical rent is $1,101 /mo and a typical home is $144,725.
Buying comes out ahead by $17k over 7 years
Using Lawton's typical rent and home value, 20% down and today's mortgage rate. The break-even point lands in year 4.
An opinion, clearly labelled, with the math shown. The figures are estimates, not quotes. Change one number and the stamp changes with it.
- Owning is ahead by
- $17k after 7 years
- Break-even point
- the 4th year when owning catches up
- Real cost of owning
- $1,356 a month year 1, against $1,101 rent
Change my numbers
The stamp relies on Lawton's typical rent and home value. Change your rent, price or years and the result can flip.
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Put in a rent, a price and a down payment of your own. The stamp updates to match.
In Lawton, is renting or buying cheaper?
Across 7 years, buying runs $16,995 cheaper, counting the money you get back when you sell. In year 4, owning's net cost falls under renting's, and it stays lower.
Renting costs. Owning costs. Net cost to date, year by year.
Rent and mortgage payment averages in Lawton
Rent and the mortgage payment don't tell the whole story, so here are all the monthly costs at Lawton's typical price, in year 1.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,101 | All of it, every month |
| Mortgage payment | $789 | $695 of it is interest in year 1 |
| Property tax | $113 | 0.94% of the value a year |
| Insurance | $131 | Census median for the city |
| Upkeep | $121 | 1% of the value a year |
| Owning, cash out | $1,154 | $94 of it builds equity |
| Lost return on the down payment | $235 | What the cash would earn each year at 8.3% |
| Buying costs, spread out | $60 | 3.5% of the price over 7 years |
| True cost of owning | $1,356 | Cash paid out, minus the equity portion, plus the two lines listed above |
The math behind the Lawton verdict
- Typical home valueZillow ZHVI, September 2026
- $144,725
- Typical rentZillow ZORI, September 2026
- $1,101 /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, Oklahoma, 1995 to 2025
- 4% 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, Lawton
- 0.94% of value
- Home insuranceCensus ACS 2020-2024, Lawton
- $131 /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 could change the Lawton result?
Every line shows where the 7-year verdict in Lawton flips, with everything else held the same.
Renting wins in these cases
- Home prices grow by less than 2.4% a year; we use Oklahoma's long-run rate of 4%.
- The mortgage rate remains above 9.31%.
- A home like this one rents for under $920 a month (the local typical is $1,101).
- You move before the 4th year.
Buying comes out ahead if
- Home prices grow at more than 2.4% a year.
- You lock in a rate below 9.31% on your mortgage (today's rate is 7.24%).
- That same home would cost more than $920 a month to rent.
- A stay of 4 years or more.
The other 812 cities, compared with Lawton
| Measure | Lawton | Median city |
|---|---|---|
| Typical home value | $144,725 | $422,451 |
| Typical rent | $1,101 /mo | $1,837 /mo |
| Price-to-rent ratio | 11.0 (#782 of 813) | 18.5 |
| Home prices, last 10 years | 4.6% a year | 6.2% a year |
| Rents, last 5 years | 6.3% a year | 4% a year |
| Property tax | 0.94% | 0.87% |
| Households that rent | 55% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
Other Oklahoma cities
- Renting ahead by $3k. Oklahoma City, OK. Verdict: toss-up.
- Renting wins by $7k. Tulsa, OK. Verdict: rent.
- Renting comes out ahead by $20k. Norman, OK. Verdict: rent.
- Renting wins by $15k. Broken Arrow, OK. Verdict: rent.
- Renting wins by $49k. Edmond, OK. Verdict: rent.
- Buying wins by $8k. Moore, OK. Verdict: buy.
- Buying wins by $17k. Midwest City, OK. Verdict: buy.
- Buying wins by $22k. Enid, OK. Verdict: buy.
- Renting wins by $27k. Stillwater, OK. Verdict: rent.