Rent vs buy in Margate, FL
In Margate, Florida, the typical rent is $2,047 /mo and the typical home is $321,227.
Over 7 years, buying comes out ahead by $48k
Today's mortgage rate and a 20% down payment are used with Margate's typical rent and home value. Break-even occurs in year 4.
Clearly labeled opinion with the math shown. These are estimates, not quotes. Each number you change updates the stamp.
- How far owning leads
- $48k after 7 years
- When costs break even
- The 4th year when owning catches up
- Actual cost of ownership
- $2,887 /mo year 1, against $2,047 rent
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Margate's typical rent and home value set the stamp. Change your rent, price or years, and the result may reverse.
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Is renting or buying cheaper in Margate?
Across 7 years, buying costs $48,224 less, including the money you get back when you sell. In year 4, owning's net cost falls below renting's and remains lower.
Rent. Cost of owning. Net cost up to this point, shown by year.
Average rent compared with mortgage payment in Margate
Rent and mortgage payments don't tell the whole story. Here are all monthly costs in year 1 using Margate's typical price.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $2,047 | All of it, every month |
| Mortgage payment | $1,751 | $1,544 of it is interest in year 1 |
| Property tax | $225 | 0.84% of the value a year |
| Insurance | $195 | Census median for the city |
| Upkeep | $268 | 1% of the value a year |
| Owning, cash out | $2,439 | $208 of it builds equity |
| Lost return on the down payment | $522 | At 8.3% a year, what the cash would earn |
| Buying costs, spread out | $134 | 3.5% of the price over 7 years |
| True cost of owning | $2,887 | Cash out minus its equity share, with the two lines above added. |
Figures behind Margate's result
- Typical home valueZillow ZHVI, September 2026
- $321,227
- Typical rentZillow ZORI, September 2026
- $2,047 /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, Florida, 1995 to 2025
- 5.4% 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, Margate
- 0.84% of value
- Home insuranceCensus ACS 2020-2024, Margate
- $195 /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
Which changes would flip the Margate result?
Every line marks a point where the result changes, while all other settings stay fixed for Margate's 7-year verdict.
Renting has the edge when
- For home-price growth below 3.5% a year, the calculation uses 5.4%, which reflects Florida's long-run average.
- The mortgage rate remains above 9.88%.
- For a similar home, monthly rent comes to less than $1,530 (the typical rent here is $2,047).
- Moving happens before year 4.
Buying has the edge when
- Home prices rise by more than 3.5% each year.
- You secure a mortgage rate under 9.88% (today's is 7.24%).
- You would pay over $1,530 each month to rent the same home.
- You remain there for 4 years or longer.
How Margate compares with the other 812 cities
| Measure | Margate | Median city |
|---|---|---|
| Typical home value | $321,227 | $422,451 |
| Typical rent | $2,047 /mo | $1,837 /mo |
| Price-to-rent ratio | 13.1 (#720 of 813) | 18.5 |
| Home prices, last 10 years | 6.9% a year | 6.2% a year |
| Property tax | 0.84% | 0.87% |
| Households that rent | 23% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
Other Florida cities
- Jacksonville, FL is a buy. The buying advantage is $27k.
- Miami, FL is a buy. The buying advantage is $27k.
- Tampa, FL is a buy. The buying advantage is $19k.
- Orlando, FL is a buy. The buying advantage is $17k.
- St. Petersburg, FL is a buy. The buying advantage is $41k.
- Port St. Lucie, FL is a buy. The buying advantage is $48k.
- Hialeah, FL is a buy. The buying advantage is $37k.
- Cape Coral, FL is a buy. The buying advantage is $36k.
- Buying is better in Tallahassee, FL, where it leads by $11k overall.
- Buying comes out ahead by $25k in Fort Lauderdale, FL overall.
- Buying is better in Pembroke Pines, FL, where it leads by $22k overall.
- Buying comes out ahead by $17k in Hollywood, FL overall.