Rent vs buy in Murfreesboro, TN
In Murfreesboro, Tennessee, the typical rent is $1,679 /mo and the typical home costs $424,348.
Renting comes out ahead by $36k over 7 years
Today's mortgage rate and a 20% down payment are paired with Murfreesboro's typical rent and its home value. The break-even point arrives in year 13.
A clearly labeled opinion with the math shown. These are estimates, not quotes. If you change a number, the stamp changes too.
- Renting is ahead by
- $36k after 7 years
- Break-even point
- year 13 when owning catches up
- Actual cost of ownership
- $3,577 /mo year 1, against $1,679 rent
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Is it cheaper to rent or buy in Murfreesboro?
Renting costs $35,859 less over 7 years, including the money returned to you when you sell. For the first 12 years, renting costs less. By year 13, owning catches up.
Renting. Owning. Net cost so far for each year.
Average rent compared with the mortgage payment in Murfreesboro
At Murfreesboro's typical price, here's the full monthly cost breakdown for year 1, including more than just the rent and mortgage.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,679 | All of it, every month |
| Mortgage payment | $2,314 | $2,039 of it is interest in year 1 |
| Property tax | $205 | 0.58% of the value a year |
| Insurance | $113 | Census median for the city |
| Upkeep | $354 | 1% of the value a year |
| Owning, cash out | $2,985 | $274 of it builds equity |
| Lost return on the down payment | $690 | The amount the cash would earn yearly at 8.3% |
| Buying costs, spread out | $177 | 3.5% of the price over 7 years |
| True cost of owning | $3,577 | Cash out, minus the equity part, plus the two amounts above |
The Murfreesboro verdict and the numbers behind it
- Typical home valueZillow ZHVI, September 2026
- $424,348
- Typical rentZillow ZORI, September 2026
- $1,679 /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, Tennessee, 1995 to 2025
- 4.7% 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, Murfreesboro
- 0.58% of value
- Home insuranceCensus ACS 2020-2024, Murfreesboro
- $113 /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 reverse the result in Murfreesboro?
With everything else unchanged, each line marks the point where Murfreesboro's 7-year verdict changes
Renting is cheaper when
- Home prices grow by less than 5.7% each year. We apply Tennessee's long-run rate of 4.7%.
- For a mortgage, the rate remains above 5.74%.
- Monthly rent for a similar home is under $2,060. The typical local figure is $1,679.
- Before year 13, you move.
Buying comes out ahead when
- Home prices grow by more than 5.7% a year.
- You lock in a mortgage rate under 5.74%. Today's rate is 7.24%.
- You'd spend over $2,060 each month to rent that same home
- You remain there for 13 years or longer.
Murfreesboro compared with the other 812 cities
| Measure | Murfreesboro | Median city |
|---|---|---|
| Typical home value | $424,348 | $422,451 |
| Typical rent | $1,679 /mo | $1,837 /mo |
| Price-to-rent ratio | 21.1 (#288 of 813) | 18.5 |
| Home prices, last 10 years | 6.6% a year | 6.2% a year |
| Rents, last 5 years | 3.7% a year | 4% a year |
| Property tax | 0.58% | 0.87% |
| Households that rent | 48% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
More cities across Tennessee
- For Nashville, TN, renting wins by $24k.
- In Memphis, TN, buying wins by $36k.
- For Knoxville, TN, renting wins by $10k.
- In Chattanooga, TN, renting wins by $11k.
- For Clarksville, TN, renting wins by $19k.
- In Franklin, TN, renting wins by $204k.
- For Johnson City, TN, buying wins by $4k.
- In Jackson, TN, buying wins by $25k.
- For Hendersonville, TN, renting wins by $77k.
- In Smyrna, TN, renting wins by $19k.
- Renting comes out ahead by $45k in Spring Hill, TN.
- It's a toss-up in Kingsport, TN, with buying ahead by $3k.