Rent vs buy in Newport News, VA
The typical monthly rent is $1,593, while the typical home value is $291,926 in Newport News, Virginia.
Over 7 years, the $1,502 gap makes it a toss-up.
The mortgage rate today and 20% down are paired with Newport News's typical home value and rent. The break-even point is year 7.
Our opinion is clearly labelled, and the math is shown. These are estimates, not quotes. The stamp updates when you change a number.
- Gap
- $2k after 7 years
- When costs break even
- Year 7 when owning catches up
- The true cost of owning
- $2,592 each month year 1, against $1,593 rent
Change my numbers
The stamp uses Newport News's typical home value and rent. Your rent, price and number of years can change the result.
Do these numbers differ from the city's?
Enter the rent, price and down payment you want to use. The stamp updates to match those figures.
Is it cheaper to rent or buy in Newport News?
Across 7 years, the two paths finish within $1,502 of each other, and small changes decide the result. In year 7, owning's net cost falls below renting's and remains lower.
The renting option Cost of owning. Total net cost by year.
Average rent compared with mortgage payment in Newport News
Rent and the mortgage don't tell the whole story. Here are all monthly costs in year 1 based on Newport News's typical price.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,593 | All of it, every month |
| Mortgage payment | $1,592 | $1,403 of it is interest in year 1 |
| Property tax | $246 | 1.01% of the value a year |
| Insurance | $104 | Census median for the city |
| Upkeep | $243 | 1% of the value a year |
| Owning, cash out | $2,185 | $189 of it builds equity |
| Lost return on the down payment | $475 | Cash earnings at 8.3% a year |
| Buying costs, spread out | $122 | 3.5% of the price over 7 years |
| True cost of owning | $2,592 | Cash out minus equity, plus the two items listed above |
The Newport News verdict explained by the numbers
- Typical home valueZillow ZHVI, September 2026
- $291,926
- Typical rentZillow ZORI, September 2026
- $1,593 /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, Virginia, 1995 to 2025
- 4.6% 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, Newport News
- 1.01% of value
- Home insuranceCensus ACS 2020-2024, Newport News
- $104 /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 factors would reverse the Newport News result?
Each line marks the threshold at which the 7-year Newport News verdict changes, while all other values remain the same.
Renting comes out ahead when
- Home prices rise by under 4.5% each year (we apply Virginia's long-run rate of 4.6%).
- The mortgage rate remains above 7.33%.
- For a home like this, rent costs under $1,580 each month (typical here: $1,593).
- Before year 7, you move.
Buying comes out ahead when
- Home prices rise by more than 4.5% a year.
- You secure a mortgage rate under 7.33% (today's is 7.24%).
- The same home would cost more than $1,580 a month to rent.
- Your stay lasts 7 years or more.
Newport News compared with the other 812 cities
| Measure | Newport News | Median city |
|---|---|---|
| Typical home value | $291,926 | $422,451 |
| Typical rent | $1,593 /mo | $1,837 /mo |
| Price-to-rent ratio | 15.3 (#612 of 813) | 18.5 |
| Home prices, last 10 years | 5.7% a year | 6.2% a year |
| Rents, last 5 years | 5.3% a year | 4% a year |
| Property tax | 1.01% | 0.87% |
| Households that rent | 52% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
Other Virginia cities
- Toss-up. Results for Suffolk, VA. Renting leads by $1k.