Rent vs buy in O'Fallon, MO
A typical home in O'Fallon, Missouri costs $378,128, while typical rent is $1,831 /mo.
A $41k advantage over 7 years favors renting.
Today's mortgage rate and a 20% down payment are applied to O'Fallon's typical figures for rent and home value. You break even in year 17.
An opinion, clearly labeled, with the math shown. These figures are estimates, not quotes. The stamp updates when you change a number.
- Renting leads by
- $41k after 7 years
- Break-even point
- Year 17 when owning catches up
- Full cost of ownership
- $3,391 /mo year 1, against $1,831 rent
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Is renting or buying cheaper in O'Fallon?
Over 7 years, renting saves $41,043 after counting the money you receive when you sell. For the first 16 years, renting costs less. In year 17, owning catches up.
Rent. Buy. Net costs by year so far.
O'Fallon: average rent compared with mortgage payment
At O'Fallon's typical price, the list covers all monthly expenses in year 1, not just rent or the mortgage.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,831 | All of it, every month |
| Mortgage payment | $2,062 | $1,817 of it is interest in year 1 |
| Property tax | $350 | 1.11% of the value a year |
| Insurance | $137 | Census median for the city |
| Upkeep | $315 | 1% of the value a year |
| Owning, cash out | $2,863 | $244 of it builds equity |
| Lost return on the down payment | $615 | The annual return on the cash at 8.3% |
| Buying costs, spread out | $158 | 3.5% of the price over 7 years |
| True cost of owning | $3,391 | Cash paid out, minus the equity portion, plus both lines listed above |
The figures behind O'Fallon's result
- Typical home valueZillow ZHVI, September 2026
- $378,128
- Typical rentZillow ZORI, September 2026
- $1,831 /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, Missouri, 1995 to 2025
- 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, O'Fallon
- 1.11% of value
- Home insuranceCensus ACS 2020-2024, O'Fallon
- $137 /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 O'Fallon result?
Each threshold shows where O'Fallon's 7-year verdict flips, with everything else held constant.
Renting comes out ahead if
- Each year, home prices increase by less than 5.3%; our calculation uses 4%, Missouri's long-run rate.
- For mortgages, the rate remains above 5.31%.
- Monthly rent for a home like this is under $2,270. The typical rent here is $1,831.
- Moving before year 17.
Buying comes out ahead if
- Home values rise by more than 5.3% each year.
- You lock in a mortgage rate under 5.31% (today's rate: 7.24%).
- You'd pay more than $2,270 monthly to rent that same home.
- Your stay lasts at least 17 years.
O'Fallon compared with the other 812 cities
| Measure | O'Fallon | Median city |
|---|---|---|
| Typical home value | $378,128 | $422,451 |
| Typical rent | $1,831 /mo | $1,837 /mo |
| Price-to-rent ratio | 17.2 (#480 of 813) | 18.5 |
| Home prices, last 10 years | 5.4% a year | 6.2% a year |
| Rents, last 5 years | 3.9% a year | 4% a year |
| Property tax | 1.11% | 0.87% |
| Households that rent | 19% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
Additional Missouri cities
- Rent. Kansas City, MO. Renting has a $9k advantage.
- Buy. St. Louis, MO. Buying has a $16k advantage.
- Rent. Springfield, MO. Renting has a $20k advantage.
- Rent. Columbia, MO. Renting has a $39k advantage.
- Buy. Independence, MO. Buying has a $9k advantage.
- Rent. Lee's Summit, MO. Renting has a $72k advantage.
- Rent. St. Charles, MO. Renting has a $53k advantage.
- Renting wins for St. Joseph, MO. The advantage is $8k.
- Rent. St. Peters, MO. Renting has a $25k advantage.
- Rent. Blue Springs, MO. Renting has a $16k advantage.
- Toss-up. Joplin, MO. Renting leads by $3k in a toss-up.
- Buy. Florissant, MO. Buying has a $37k advantage.