Rent vs buy in Long Beach, CA
In Long Beach, California, typical rent is $2,412 /mo and a typical home costs $852,391.
Renting comes out ahead by $111k over 7 years
With today's mortgage rate, the figures use Long Beach's typical home value and rent, with 20% down. The break-even point falls in year 17.
Clearly labeled opinion with the math shown. These are estimates, not quotes. If you change a number, the stamp changes with it.
- Renting is ahead by
- $111k after 7 years
- Break-even point
- year 17 when owning catches up
- Full cost of owning
- $7,089 /mo year 1, against $2,412 rent
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Is it cheaper to rent or buy in Long Beach?
Across 7 years, renting saves $111,053 after counting the money you receive when you sell. During the first 16 years, renting costs less. In year 17, owning catches up.
Renting. Owning. Net cost to date, year by year.
Average rent compared with mortgage payments in Long Beach
Rent and mortgage payments don't show the full picture, so here's each monthly expense in year 1 using Long Beach's typical price.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $2,412 | All of it, every month |
| Mortgage payment | $4,647 | $4,096 of it is interest in year 1 |
| Property tax | $455 | 0.64% of the value a year |
| Insurance | $87 | Census median for the city |
| Upkeep | $710 | 1% of the value a year |
| Owning, cash out | $5,899 | $551 of it builds equity |
| Lost return on the down payment | $1,385 | At 8.3% a year, that's what the cash could earn. |
| Buying costs, spread out | $355 | 3.5% of the price over 7 years |
| True cost of owning | $7,089 | Cash paid out, minus the equity portion, plus the two amounts above |
The figures behind Long Beach's result
- Typical home value: Zillow ZHVI, September 2026
- $852,391
- Typical rent: Zillow ZORI, September 2026
- $2,412 /mo
- The engine doesn't model private mortgage insurance, which a 20% down payment avoids.
- 20%
- Mortgage rate from Freddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Growth in home pricesFHFA index, California, 1995 to 2025
- 5.3% each year.
- Growth in rentCPI yearly growth in rent for primary residence, 2006 to 2026
- 3.5% each year.
- Return on savingsYearly rebalanced portfolio with 60% S&P 500, including dividends, and 40% 10-year Treasuries, 1928 to 2025
- Each year: 8.3%
- Property tax: Census ACS 2020-2024, Long Beach
- The rate is 0.64% of value.
- Home insurance: Census ACS 2020-2024, Long Beach
- Each month: $87
- Maintenance: Fannie Mae, low end of 1% to 4%
- Each year: 1% of value
- Buying costs: Freddie Mac, middle of 2% to 5%
- Of the price: 3.5%
- Selling costs: Agent commission plus closing costs
- Of the price: 6%
What would reverse the result in Long Beach?
Each line marks the threshold for a change in the 7-year Long Beach verdict, while all other inputs remain as they are.
When renting wins
- Home prices rise by less than 6.8% each year (we use California's long-run rate of 5.3%).
- The mortgage rate remains over 4.91%.
- A similar home rents for under $3,600 monthly (the typical rent here is $2,412).
- You move before the year 17 mark.
When buying comes out ahead
- Home prices rise by more than 6.8% each year.
- You secure a mortgage rate under 4.91% (today's rate is 7.24%).
- The same home would cost over $3,600 monthly to rent.
- You remain for 17 years or more.
Long Beach compared with the other 812 cities
| Measure | Long Beach | Median city |
|---|---|---|
| Typical home value | $852,391 | $422,451 |
| Typical rent | $2,412 /mo | $1,837 /mo |
| Price-to-rent ratio | 29.4 (#76 of 813) | 18.5 |
| Home prices, last 10 years | 6.3% a year | 6.2% a year |
| Rents, last 5 years | 3.5% a year | 4% a year |
| Property tax | 0.64% | 0.87% |
| Households that rent | 59% | 42% |
Sources: Zillow ZHVI data, ZORI, Census ACS 2020-2024.
More cities in California
- Rent. The advantage goes to renting by $111k in Los Angeles, CA.
- Rent. The advantage goes to renting by $108k in San Diego, CA.
- Rent. The advantage goes to renting by $210k in San Jose, CA.
- Rent. The advantage goes to renting by $128k in San Francisco, CA.
- Buy. The advantage goes to buying by $22k in Fresno, CA.
- Toss-up. Renting leads by $3k in Sacramento, CA, making it a toss-up.
- Rent. In Oakland, CA, renting wins by $44k.
- Buy. In Bakersfield, CA, buying wins by $11k.
- Rent. In Anaheim, CA, renting wins by $115k.
- Recommendation: Buy. Stockton, CA. The buying advantage reaches $16k.
- Recommendation: Rent. Riverside, CA. The renting advantage reaches $27k.
- Recommendation: Rent. Irvine, CA. The renting advantage reaches $263k.