Rent vs buy in Lenexa, KS
In Lenexa, Kansas, the typical rent is $1,730 /mo and the typical home price is $477,263.
Over 7 years, renting comes out ahead by $108k
Using today's mortgage rate, the comparison applies a 20% down payment and Lenexa's typical rent and home value. No break-even point appears within 30 years.
An opinion, clearly labelled, with the math shown. The figures are estimates, not quotes. If you change a number, the stamp changes with it.
- Renting comes out ahead by
- $108k after 7 years
- Break-even point
- 30+ years owning never catches up sooner
- The true cost of owning
- $4,295 /mo year 1, against $1,730 rent
Change my numbers
Lenexa's typical rent and home value form the basis for the stamp. Changing your rent, price or number of years can reverse the result.
Do these numbers differ from the city's?
Provide your own figures for rent, price and down payment. Those inputs change the stamp.
Is renting or buying cheaper in Lenexa?
Once you include the money you get back when you sell, renting costs $107,558 less over 7 years. For every year displayed, renting has a lower net cost than owning. Buying doesn't catch up within 30 years.
Rent. Buy. Net cost so far for each year.
Lenexa: average rent compared with mortgage payment
Rent and the mortgage payment only tell part of the story. At Lenexa's typical price, here are the monthly costs for year 1.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,730 | All of it, every month |
| Mortgage payment | $2,602 | $2,293 of it is interest in year 1 |
| Property tax | $465 | 1.17% of the value a year |
| Insurance | $164 | Census median for the city |
| Upkeep | $398 | 1% of the value a year |
| Owning, cash out | $3,629 | $309 of it builds equity |
| Lost return on the down payment | $776 | What the cash would earn each year at 8.3% |
| Buying costs, spread out | $199 | 3.5% of the price over 7 years |
| True cost of owning | $4,295 | Two lines above, plus cash out minus the equity part |
Lenexa verdict: the numbers behind it
- Typical home valueZillow ZHVI, September 2026
- $477,263
- Typical rentZillow ZORI, September 2026
- $1,730 /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, Kansas, 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, Lenexa
- 1.17% of value
- Home insuranceCensus ACS 2020-2024, Lenexa
- $164 /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 reverse the result in Lenexa?
For each line, the 7-year Lenexa verdict changes at that point. Everything else stays as it is.
Renting wins if
- Home prices grow at less than 6.7% a year; our rate is 4%, based on Kansas's long-run rate.
- This applies when the mortgage rate stays above 3.17%.
- For a home like this, rent is less than $2,880 each month; the typical amount here is $1,730.
- Moving at any time during the next 30 years means owning still won't catch up with these numbers.
Buying wins if
- Home prices grow at more than 6.7% a year.
- You secure a mortgage rate under 3.17%, while today's rate is 7.24%.
- If you rented that same home, the monthly cost would exceed $2,880.
How Lenexa compares with the other 812 cities
| Measure | Lenexa | Median city |
|---|---|---|
| Typical home value | $477,263 | $422,451 |
| Typical rent | $1,730 /mo | $1,837 /mo |
| Price-to-rent ratio | 23.0 (#207 of 813) | 18.5 |
| Home prices, last 10 years | 5.8% a year | 6.2% a year |
| Rents, last 5 years | 5% a year | 4% a year |
| Property tax | 1.17% | 0.87% |
| Households that rent | 43% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
Other Kansas cities
- $14 thousand favors renting in Wichita, KS. Verdict: Rent.
- $103 thousand favors renting in Overland Park, KS. Verdict: Rent.
- It's a toss-up. Kansas City, KS. Buying is ahead by $1 thousand.
- $76 thousand favors renting in Olathe, KS. Verdict: Rent.
- It's a toss-up. Topeka, KS. Renting is ahead by $2 thousand.
- $45 thousand favors renting in Lawrence, KS. Verdict: Rent.
- $100 thousand favors renting in Shawnee, KS. Verdict: Rent.
- $55 thousand favors renting in Manhattan, KS. Verdict: Rent.