Rent vs buy in Lowell, MA

In Lowell, Massachusetts, the typical monthly rent is $2,252, while a typical home costs $481,510.

Rent

Renting comes out ahead by $9k across 7 years

With Lowell's typical rent and home value as the basis, the calculation applies 20% down and today's mortgage rate. Year 8 is the break-even point.

Clearly labeled opinion with the math shown. These figures are estimates rather than quotes. Adjust any number, and the stamp will change.

Renting comes out ahead by: $9k
When costs balance: year 8
Actual cost of owning: $4,228 /mo

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Lowell's typical rent and home value are used by the stamp. Your rent, price and years can change the result.

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Is it cheaper to rent or buy in Lowell?

Across 7 years, renting costs $8,960 less, including the money you get back when you sell. For the first 7 years, renting costs less. By year 8, owning has caught up.

Renting. Owning. Net cost to date, by year.

Average rent compared with the mortgage payment in Lowell

Rent and mortgage payments don't tell the whole story. Here are all monthly costs for year 1 using Lowell's typical price.

Each month, year 1	Amount	What it is
Rent	$2,252	All of it, every month
Mortgage payment	$2,625	$2,314 of it is interest in year 1
Property tax	$421	1.05% of the value a year
Insurance	$108	Census median for the city
Upkeep	$401	1% of the value a year
Owning, cash out	$3,556	$311 of it builds equity
Lost return on the down payment	$783	At 8.3% a year, this is what the cash would earn.
Buying costs, spread out	$201	3.5% of the price over 7 years
True cost of owning	$4,228	The two lines above are added, while the equity portion is subtracted from cash out.

The figures behind Lowell's verdict

Typical home valueZillow ZHVI, September 2026: $481,510
Typical rentZillow ZORI, September 2026: $2,252 /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, Massachusetts, 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, Lowell: 1.05% of value
Home insuranceCensus ACS 2020-2024, Lowell: $108 /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 change the result in Lowell?

Each line marks where Lowell's 7-year result changes, with all other figures remaining the same.

Renting comes out ahead when

The yearly growth rate for home prices is below 5.3%; the calculation uses 5.1%, Massachusetts's long-run rate.
A mortgage rate above 6.91% remains in place.
A similar home rents for under $2,350 a month, compared with the typical $2,252 here.
Before year 8, you change homes.

Buying comes out ahead when

Home prices rise by more than 5.3% a year.
You lock your rate under 6.91%; the current figure is 7.24%.
For the same home, your monthly rent would exceed $2,350.
Your stay lasts 8 years or longer.

Lowell compared with the other 812 cities

Measure	Lowell	Median city
Typical home value	$481,510	$422,451
Typical rent	$2,252 /mo	$1,837 /mo
Price-to-rent ratio	17.8 (#441 of 813)	18.5
Home prices, last 10 years	7.1% a year	6.2% a year
Rents, last 5 years	5.2% a year	4% a year
Property tax	1.05%	0.87%
Households that rent	57%	42%

Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.

Other Massachusetts cities

Rent wins: New Bedford, MA. Renting is ahead by $40k.

Massachusetts rent vs. buy: the state's figures