Rent vs buy in Manhattan, KS
In Manhattan, Kansas, the typical rent is $1,315 /mo and the typical home costs $294,183.
Over 7 years, renting comes out ahead by $55k
Today's mortgage rate and 20% down are paired with Manhattan's typical rent and home value. No break-even occurs within 30 years.
An opinion with clear labels and the math shown. These are estimates, not quotes. The stamp changes whenever you change a number.
- How far renting is ahead
- $55k after 7 years
- Point of break-even
- 30+ years owning never catches up sooner
- Full cost of ownership
- $2,774 /mo year 1, against $1,315 rent
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In Manhattan, which costs less, renting or buying?
Including money returned when you sell, renting costs $54,637 less over 7 years. In every year shown, renting has the lower net cost, and buying doesn't catch up within 30 years.
The renting option. Home ownership. Net cost to date, by year.
Average rent compared with mortgage payment in Manhattan
At Manhattan's typical price, this list shows every monthly expense in year 1, not just rent and mortgage.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,315 | All of it, every month |
| Mortgage payment | $1,604 | $1,414 of it is interest in year 1 |
| Property tax | $375 | 1.53% of the value a year |
| Insurance | $139 | Census median for the city |
| Upkeep | $245 | 1% of the value a year |
| Owning, cash out | $2,363 | $190 of it builds equity |
| Lost return on the down payment | $478 | At 8.3% a year, that's what the cash would earn. |
| Buying costs, spread out | $123 | 3.5% of the price over 7 years |
| True cost of owning | $2,774 | Cash out minus the equity portion, plus the two costs listed above |
The Manhattan verdict, explained by numbers
- Typical home value: Zillow ZHVI, September 2026
- $294,183
- Typical rent: Zillow ZORI, September 2026
- $1,315 monthly
- Private mortgage insurance isn't included in the model, while 20% down avoids it.
- 20%
- Mortgage rate: Freddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Growth in home prices: FHFA house price index, Kansas, 1995 to 2025
- Each year: 4%
- Your savings return: 60% of S&P 500 with dividends plus 40% of 10-year Treasuries, rebalanced each year from 1928 to 2025
- Annual return: 8.3%
- Property tax source: Census ACS 2020-2024, Manhattan
- 1.53% of the value
- Home insurance: Census ACS 2020-2024, Manhattan
- $139 /mo
- Repairs and upkeep: Fannie Mae, low end of 1% to 4%
- Each year: 1% of value.
- Costs of buyingFreddie Mac, midpoint from 2% to 5%
- Price times 3.5%
- Costs for sellingAgent commission plus closing costs
- 6% of the price
What factors would change the result in Manhattan?
Each line marks where Manhattan's 7-year verdict changes, while all other inputs stay as they are.
Renting is cheaper when
- Home price growth is under 6.2% a year, using 4%, Kansas's long-run rate.
- Here, the mortgage rate stays above 3.90%.
- Monthly rent for a similar home is under $1,900 (the typical rate here is $1,315).
- If you move at any point during the next 30 years, owning doesn't catch up at these figures.
Buying is cheaper when
- Home prices increase by more than 6.2% a year.
- You lock in a mortgage rate under 3.90%, while today's rate is 7.24%.
- Paying more than $1,900 a month would be required to rent the same home.
How Manhattan compares with the other 812 cities
| Measure | Manhattan | Median city |
|---|---|---|
| Typical home value | $294,183 | $422,451 |
| Typical rent | $1,315 /mo | $1,837 /mo |
| Price-to-rent ratio | 18.6 (#398 of 813) | 18.5 |
| Home prices, last 10 years | 4.4% a year | 6.2% a year |
| Rents, last 5 years | 5.3% a year | 4% a year |
| Property tax | 1.53% | 0.87% |
| Households that rent | 57% | 42% |
Data comes from Zillow ZHVI and ZORI, Census ACS 2020-2024
More cities in Kansas
- Renting leads by $14k in Wichita KS.
- Renting leads by $103k in Overland Park, KS.
- It's a toss-up in Kansas City, KS, with buying ahead by $1k.
- Renting leads by $76k in Olathe KS.
- It's a toss-up in Topeka KS, with renting ahead by $2k.
- Renting leads by $45k in Lawrence KS.
- Renting leads by $100k in Shawnee KS.
- Renting leads by $108k in Lenexa KS.