Rent vs buy in Layton, UT
A typical home in Layton, Utah costs $521,360, with typical rent $1,650 /mo.
Renting comes out ahead by $58k across 7 years
Today's mortgage rate, 20% down and Layton's typical rent and home value form the basis. Break-even point: year 15.
Our clearly labeled opinion shows the math. These figures are estimates, not quotes. Adjust a number and the stamp will change.
- Rent leads by
- $58k after 7 years
- Break-even point
- Year 15 when owning catches up
- Actual cost of ownership
- $4,310 /mo year 1, against $1,650 rent
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Would renting or buying cost less in Layton?
Across 7 years, renting costs $57,635 less when you include the money returned after you sell. For the first 14 years, renting costs less. By year 15, owning has caught up.
Rent. Buy. Your net cost to date, shown by year.
Average rent compared with mortgage payment in Layton
At Layton's typical price, rent and the mortgage don't cover everything. The full monthly costs for year 1 are shown here.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,650 | All of it, every month |
| Mortgage payment | $2,842 | $2,505 of it is interest in year 1 |
| Property tax | $230 | 0.53% of the value a year |
| Insurance | $75 | Census median for the city |
| Upkeep | $434 | 1% of the value a year |
| Owning, cash out | $3,582 | $337 of it builds equity |
| Lost return on the down payment | $847 | The amount your cash would earn each year at 8.3% |
| Buying costs, spread out | $217 | 3.5% of the price over 7 years |
| True cost of owning | $4,310 | Cash out, minus the equity portion, plus the two lines above |
The figures behind Layton's result
- Typical home valueZillow ZHVI, September 2026
- $521,360
- Typical rentZillow ZORI, September 2026
- $1,650 /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, Utah, 1995 to 2025
- 5.1% 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, Layton
- 0.53% of value
- Home insuranceCensus ACS 2020-2024, Layton
- $75 /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 Layton verdict?
Each line marks the point where Layton's 7-year verdict changes, while everything else remains as it is.
Renting comes out ahead when
- Home prices grow by less than 6.4% a year, based on Utah's long-run rate of 5.1%.
- The mortgage rate remains above 5.27%.
- Monthly rent for a similar home is under $2,270 (typical here: $1,650).
- You move ahead of year 15.
When buying comes out ahead
- Home prices grow at more than 6.4% a year.
- You fix the rate under 5.27%; right now it's 7.24%.
- Monthly rent for the same home would exceed $2,270.
- You remain there for 15 years or longer.
How Layton compares with the other 812 cities
| Measure | Layton | Median city |
|---|---|---|
| Typical home value | $521,360 | $422,451 |
| Typical rent | $1,650 /mo | $1,837 /mo |
| Price-to-rent ratio | 26.3 (#112 of 813) | 18.5 |
| Home prices, last 10 years | 7.5% a year | 6.2% a year |
| Property tax | 0.53% | 0.87% |
| Households that rent | 27% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
More cities in Utah
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- Rent. In Herriman, UT, renting comes out ahead by $68k.