Rent vs buy in Pasadena, TX
In Pasadena, Texas, the typical rent is $1,361 /mo and the typical home is $215,283.
Buying comes out ahead by $6k over 7 years
Today's mortgage rate and 20% down go into the math, along with Pasadena's typical rent and home value. The break-even point falls in year 6.
An opinion, with the math shown. Clearly labelled, and these are estimates, not quotes. Adjust any number and the stamp shifts.
- Owning comes out ahead by
- $6k after 7 years
- Break-even point
- in year 6 when owning catches up
- What owning really costs
- $2,067 /mo year 1, against $1,361 rent
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The stamp takes the typical rent and home value found in Pasadena's market. Change your rent, price or years and the result can flip.
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Is it cheaper to rent or buy in Pasadena?
Buying costs less over 7 years, by $6,319, once you count what comes back when the home sells. In year 6, owning's net cost falls below renting's and stays there.
Renting. Owning. Net cost to date, by year.
Average rent compared with the mortgage payment in Pasadena
Rent and the mortgage don't tell the whole story. Here are all the monthly costs at Pasadena's typical price, in year 1.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,361 | All of it, every month |
| Mortgage payment | $1,174 | $1,035 of it is interest in year 1 |
| Property tax | $248 | 1.38% of the value a year |
| Insurance | $166 | Census median for the city |
| Upkeep | $179 | 1% of the value a year |
| Owning, cash out | $1,767 | $139 of it builds equity |
| Lost return on the down payment | $350 | What the cash would bring in each year at 8.3% |
| Buying costs, spread out | $90 | 3.5% of the price over 7 years |
| True cost of owning | $2,067 | Cash out, minus the equity share, plus the two lines listed above |
The numbers behind the verdict in Pasadena
- Typical home value from Zillow ZHVI, September 2026
- $215,283
- Typical rent from Zillow ZORI, September 2026
- $1,361 /mo
- A 20% down payment avoids private mortgage insurance. The engine does not model it.
- 20%
- Mortgage rate, from Freddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Growth in home pricesFHFA home price index, Texas, 1995 to 2025
- Each year, 4.7%
- Rent growth, yearly growth in CPI rent of primary residence, 2006 to 2026
- Each year, 3.5%
- Savings return60% S&P 500 with dividends plus 40% 10-year Treasuries, rebalanced each year, 1928 to 2025
- Each year, 8.3%
- Property tax, from Census ACS 2020-2024, Pasadena
- Of the value, 1.38%
- Home insurance, from Census ACS 2020-2024, Pasadena
- $166 a month
- Maintenance, per Fannie Mae: low end, 1% to 4%
- Each year, 1% of the value
- Buying costs, per Freddie Mac: middle, 2% to 5%
- 3.5% of the price
- Selling costsCommission to the agent plus closing costs
- 6% of the price
What would make it flip in Pasadena?
Every line marks the point at which the 7-year verdict for Pasadena flips, with all other inputs unchanged.
Renting comes out ahead when
- Home prices rise by under 4.3% a year (our figure is 4.7%, Texas's long-run pace).
- The mortgage rate remains above 7.76%.
- A home like this one rents for under $1,290 a month (the typical figure here: $1,361).
- You relocate before year 6.
When buying comes out ahead
- Home values grow at more than 4.3% a year.
- You lock in a rate under 7.76% (today's rate is 7.24%).
- If you rented the same home, the monthly cost would be more than $1,290.
- Staying 6 years or more.
Pasadena compared with the other 812 cities
| Measure | Pasadena | Median city |
|---|---|---|
| Typical home value | $215,283 | $422,451 |
| Typical rent | $1,361 /mo | $1,837 /mo |
| Price-to-rent ratio | 13.2 (#717 of 813) | 18.5 |
| Home prices, last 10 years | 5.2% a year | 6.2% a year |
| Rents, last 5 years | 2.2% a year | 4% a year |
| Property tax | 1.38% | 0.87% |
| Households that rent | 46% | 42% |
Sources: Zillow ZHVI, ZORI, Census ACS 2020-2024.
More Texas cities
- Too close to call. Houston, TX. Renting leads by $2k.
- Rent. San Antonio, TX. Renting comes out ahead by $10k.
- Rent. Dallas, TX. Renting is ahead by $20k.
- Rent. Fort Worth, TX. Renting is ahead by $17k.
- Rent. Austin, TX. Renting is ahead by $111k.
- Too close to call. El Paso, TX. Buying is ahead by $2k.
- Rent. Arlington, TX. Renting is ahead by $34k.
- Buy. Corpus Christi, TX. Buying is ahead by $4k.
- Rent. Plano, TX. Renting is ahead by $105k.
- Too close to call. Lubbock, TX. Buying is ahead by $2k.
- Rent. Laredo, TX. Renting is ahead by $20k.
- Rent. Irving, TX. Renting is ahead by $36k.