Rent vs buy in Naperville, IL
In Naperville, Illinois, the typical rent is $2,236 /mo and the typical home costs $618,458.
Over 7 years, renting is ahead by $198k
Today's mortgage rate and 20% down are paired with Naperville's typical rent and home value. No break-even point occurs within 30 years.
Clearly labelled opinion with math shown. These figures are estimates, not quotes. Adjust one number, and the stamp changes.
- Renting leads by
- $198k after 7 years
- Break-even point
- 30+ years owning never catches up sooner
- Actual cost of owning
- $5,827 /mo year 1, against $2,236 rent
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Is it cheaper to rent or buy in Naperville?
Over 7 years, renting costs $198,018 less, including the money returned to you when you sell. Renting's net cost remains below owning's throughout all the years shown, with owning not catching up within 30 years.
The renting option. The owning option. Year-by-year net cost so far.
Average rent compared with mortgage payment in Naperville
Rent and mortgage payments don't tell the full story. At Naperville's typical price, here are all monthly costs in year 1.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $2,236 | All of it, every month |
| Mortgage payment | $3,372 | $2,972 of it is interest in year 1 |
| Property tax | $953 | 1.85% of the value a year |
| Insurance | $123 | Census median for the city |
| Upkeep | $515 | 1% of the value a year |
| Owning, cash out | $4,964 | $400 of it builds equity |
| Lost return on the down payment | $1,005 | Annual return on the cash at 8.3% |
| Buying costs, spread out | $258 | 3.5% of the price over 7 years |
| True cost of owning | $5,827 | Cash out, subtract the equity part and add the two amounts above |
The figures behind the Naperville result
- Typical home value: Zillow ZHVI, September 2026
- $618,458
- Typical rent: Zillow ZORI, September 2026
- $2,236 /mo
- Down payment: 20% means no private mortgage insurance, and the engine doesn't model that insurance.
- 20%
- Mortgage rate: Freddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Growth in home prices: FHFA index, Illinois, 1995 to 2025
- Each year: 3.3%
- Rent growth: Primary residence rent from CPI, yearly growth 2006 to 2026
- Each year: 3.5%
- Return on savings60% in S&P 500 with dividends and 40% in 10-year Treasuries, rebalanced each year, 1928 to 2025
- Each year: 8.3%
- Property tax: Census ACS 2020-2024, Naperville
- The rate on value is 1.85%.
- Home insurance: Census ACS 2020-2024, Naperville
- Each month costs $123.
- Maintenance: Fannie Mae, low end of 1% to 4%
- Each year: 1% of value
- Cost of buying: Freddie Mac range, 2% to 5% midpoint
- Price multiplied by 3.5%
- Selling costs: Agent commission plus closing costs
- 6% of the price
What would reverse the result in Naperville?
Each line marks where Naperville's 7-year verdict changes while everything else remains as it is.
Renting is better when
- Home prices grow at a rate below 7.2% each year; this calculation uses 3.3%, Illinois's long-run rate.
- This outcome continues while the mortgage rate stays above 1.38%.
- Renting a similar home costs under $4,360 each month (typical here: $2,236).
- Owning never catches up at these figures if you move during the next 30 years.
When buying comes out ahead
- Home prices increase at a yearly rate above 7.2%.
- Lock in a mortgage rate under 1.38%, compared with today's 7.24%.
- The monthly rent for that same home would exceed $4,360.
How Naperville compares with 812 other cities
| Measure | Naperville | Median city |
|---|---|---|
| Typical home value | $618,458 | $422,451 |
| Typical rent | $2,236 /mo | $1,837 /mo |
| Price-to-rent ratio | 23.0 (#205 of 813) | 18.5 |
| Home prices, last 10 years | 5.4% a year | 6.2% a year |
| Rents, last 5 years | 5% a year | 4% a year |
| Property tax | 1.85% | 0.87% |
| Households that rent | 25% | 42% |
Sources: Zillow ZHVI, ZORI, Census ACS 2020-2024.
Other Illinois cities
- It's a toss-up: Chicago, IL. Buying is ahead by $3k.
- Rent: Aurora, IL. Renting leads by $12k.
- Rent: Joliet, IL. Renting leads by $30k.
- Rent: Rockford, IL. Renting leads by $22k.
- Rent: Elgin, IL. Renting leads by $58k.
- Rent: Springfield, IL. Renting leads by $13k.
- Buy: Peoria, IL. Buying leads by $15k.
- Rent: Champaign, IL. Renting leads by $29k.
- Rent: Waukegan, IL. Renting leads by $24k.
- Rent: Cicero, IL. Renting leads by $71k.
- Rent: Bloomington, IL. Renting leads by $68k.
- In Schaumburg, IL, renting wins by $42k.