Rent vs buy in Medford, MA
In Medford, Massachusetts, the typical rent is $3,626 /mo and the typical home is $817,090.
Over 7 years, renting comes out $13k ahead.
Today's mortgage rate, a 20% down payment and Medford's typical rent and home value form the basis. Year 8 is the break-even point.
Clearly labelled opinion with the math shown. Estimates, not quotes. Adjust one figure, and the stamp changes too.
- Rent leads by
- $13k after 7 years
- When costs balance
- Year 8 when owning catches up
- Actual cost of ownership
- $6,959 each month year 1, against $3,626 rent
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In Medford, is renting or buying cheaper?
Across 7 years, renting costs $13,291 less once you include the money returned when you sell. For the first 7 years, renting costs less. By year 8, owning catches up.
Rent. Buying. Net cost by year so far
Comparing average rent and mortgage payment in Medford
Rent and mortgage payments aren't the entire picture. At Medford's typical price, here are all costs each month during year 1.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $3,626 | All of it, every month |
| Mortgage payment | $4,455 | $3,927 of it is interest in year 1 |
| Property tax | $565 | 0.83% of the value a year |
| Insurance | $118 | Census median for the city |
| Upkeep | $681 | 1% of the value a year |
| Owning, cash out | $5,819 | $528 of it builds equity |
| Lost return on the down payment | $1,328 | At 8.3% a year, what the cash would earn |
| Buying costs, spread out | $340 | 3.5% of the price over 7 years |
| True cost of owning | $6,959 | Subtract the equity portion from cash out, then add both preceding lines |
The figures behind the Medford verdict
- Typical home valueZillow ZHVI, September 2026
- $817,090
- Typical rentZillow ZORI, September 2026
- $3,626 /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, Medford
- 0.83% of value
- Home insuranceCensus ACS 2020-2024, Medford
- $118 /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
In Medford, what would flip the result?
The 7-year verdict in Medford changes at each listed point, with everything else kept as it is.
When renting wins
- Each year, home price growth runs below 5.3% (our calculation uses 5.1%, Massachusetts's long-run rate).
- For mortgages, the rate remains above 6.95%.
- This kind of home has a monthly rent below $3,770 (the local typical figure is $3,626).
- Moving before year 8.
When buying wins
- Home prices rise by more than 5.3% each year.
- You secure a mortgage rate under 6.95% (today's is 7.24%).
- The monthly rent for the same home would exceed $3,770.
- You remain there for 8 years or more.
How Medford compares with the other 812 cities
| Measure | Medford | Median city |
|---|---|---|
| Typical home value | $817,090 | $422,451 |
| Typical rent | $3,626 /mo | $1,837 /mo |
| Price-to-rent ratio | 18.8 (#396 of 813) | 18.5 |
| Home prices, last 10 years | 5% a year | 6.2% a year |
| Rents, last 5 years | 5.3% a year | 4% a year |
| Property tax | 0.83% | 0.87% |
| Households that rent | 46% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
Additional cities in Massachusetts
- Rent. Boston, MA. Renting saves you $10k.
- Rent. Worcester, MA. Renting saves you $8k.
- Buy. Springfield, MA. Buying saves you $18k.
- Rent. Cambridge, MA. Renting saves you $83k.
- Rent. Lowell, MA. Renting saves you $9k.
- Rent. Brockton, MA. Renting saves you $19k.
- Rent. Lynn, MA. Renting saves you $45k.
- Rent. Quincy, MA. Renting saves you $51k.
- Rent. New Bedford, MA. Renting saves you $40k.
- Rent. Fall River, MA. Renting saves you $29k.
- Rent. Newton, MA. Renting saves you $317k.
- Toss-up. Lawrence, MA. Renting leads by $2k.