Rent vs buy in Longmont, CO
Longmont, Colorado: typical rent $1,883 /mo, typical home $541,469.
Over 7 years, renting comes out ahead by $45k.
Using Longmont's typical rent and home value, 20% down and today's mortgage rate. The break-even point is year 13.
Our take, clearly labelled, and we show the math. These are estimates, not quotes. Adjust a figure and the stamp updates.
- Renting leads by
- $45k after 7 years
- Break-even point
- Year 13 when owning catches up
- Actual cost of owning
- $4,547 /mo year 1, against $1,883 rent
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Is renting or buying cheaper in Longmont?
Counting what you get back when you sell, renting over 7 years costs $45,280 less. For the first 12 years, renting costs less. By year 13, owning catches up.
Renting. Buying. Net cost to date, by year.
Average rent compared with mortgage payment in Longmont
Rent and the mortgage only tell part of the story. Here are all the monthly costs for year 1, based on Longmont's typical price.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,883 | All of it, every month |
| Mortgage payment | $2,952 | $2,602 of it is interest in year 1 |
| Property tax | $230 | 0.51% of the value a year |
| Insurance | $158 | Census median for the city |
| Upkeep | $451 | 1% of the value a year |
| Owning, cash out | $3,791 | $350 of it builds equity |
| Lost return on the down payment | $880 | What the cash would earn each year at 8.3% |
| Buying costs, spread out | $226 | 3.5% of the price over 7 years |
| True cost of owning | $4,547 | Cash out, minus the equity part, plus both lines above |
Longmont verdict: the numbers behind it
- Typical home value: Zillow ZHVI, September 2026
- $541,469
- Typical rent: Zillow ZORI, September 2026
- $1,883 /mo
- Down payment: 20% means no private mortgage insurance, and the engine doesn't model it.
- 20%
- Mortgage rate, from Freddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Growth in home prices: FHFA index of house prices: Colorado, 1995 to 2025
- 5.2% each year
- Rent growth: CPI rent of primary residence, yearly growth for 2006 to 2026
- Each year, 3.5%
- Return on savings: 60% S&P 500, dividends included, and 40% 10-year Treasuries, rebalanced each year, 1928 to 2025
- Each year, 8.3%
- Tax on the propertyCensus ACS 2020-2024, Longmont
- 0.51% of the value
- Insurance for the homeCensus ACS 2020-2024, Longmont
- $158 each month
- UpkeepFannie Mae, low end of the 1% to 4% range
- Each year, 1% of value
- Costs of buyingFreddie Mac, middle of the 2% to 5% range
- Applied to price: 3.5%
- Costs of sellingAgent commission and closing costs
- Price times 6%
What would change the Longmont result?
Each line shows when Longmont's 7-year verdict changes while everything else remains as it is.
Renting wins if
- Home prices rise by less than 6.2% each year, based on 5.2% for Colorado's long-term rate.
- The mortgage rate holds above 5.75%.
- Renting a home like this costs less than $2,370 a month (the typical figure here: $1,883).
- Before year 13, you move.
Buying wins if
- Home prices grow by more than 6.2% a year.
- You lock in a rate under 5.75% (today's is 7.24%).
- The same home would cost more than $2,370 a month to rent.
- You stay for 13 years or more.
Longmont compared with the other 812 cities
| Measure | Longmont | Median city |
|---|---|---|
| Typical home value | $541,469 | $422,451 |
| Typical rent | $1,883 /mo | $1,837 /mo |
| Price-to-rent ratio | 24.0 (#166 of 813) | 18.5 |
| Home prices, last 10 years | 4.4% a year | 6.2% a year |
| Rents, last 5 years | 2.4% a year | 4% a year |
| Property tax | 0.51% | 0.87% |
| Households that rent | 38% | 42% |
Data from: Zillow ZHVI and ZORI, Census ACS 2020-2024.
More cities in Colorado
- In Denver, CO, renting wins by $37k.
- Rent wins in Colorado Springs, CO, by $17k.
- In Aurora, CO, renting wins by $22k.
- Rent wins in Fort Collins, CO, by $41k.
- In Lakewood, CO, renting wins by $54k.
- Rent wins in Thornton, CO, by $26k.
- In Arvada, CO, renting wins by $47k.
- Renting wins by $34k in Westminster, CO.
- Renting wins by $33k in Greeley, CO.
- Buying wins by $5k in Pueblo, CO.
- Renting wins by $53k in Centennial, CO.
- Renting wins by $147k in Boulder, CO.