Rent vs buy in Perris, CA

Typical rent in Perris, California is $2,846 /mo, while a typical home is $542,448.

Buy

Over 7 years, buying comes out ahead by $40k

Based on Perris's typical rent and home value, the calculation assumes 20% down and today's mortgage rate. The break-even point falls in year 5.

Clear opinion label, with the math shown. These are estimates, not quotes. The stamp changes whenever you change a number.

Owning is ahead by: $40k
Break-even point: Year 5
Actual cost of owning: $4,640 /mo

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Is buying or renting cheaper in Perris?

Across 7 years, buying costs $39,667 less after counting the money you get back when you sell. In year 5, owning's net cost falls below renting's and remains lower.

Renting. Owning. Net cost to date, by year.

Perris: average rent vs mortgage payment

Rent and the mortgage don't tell the whole story. Every monthly cost for year 1 at Perris's typical price is included.

Each month, year 1	Amount	What it is
Rent	$2,846	All of it, every month
Mortgage payment	$2,957	$2,607 of it is interest in year 1
Property tax	$375	0.83% of the value a year
Insurance	$98	Census median for the city
Upkeep	$452	1% of the value a year
Owning, cash out	$3,883	$351 of it builds equity
Lost return on the down payment	$882	Annual earnings on the cash at 8.3%
Buying costs, spread out	$226	3.5% of the price over 7 years
True cost of owning	$4,640	Cash out, minus the equity portion, plus the two lines above

Numbers behind Perris's result

Typical home valueZillow ZHVI, September 2026: $542,448
Typical rentZillow ZORI, September 2026: $2,846 /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, California, 1995 to 2025: 5.3% 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, Perris: 0.83% of value
Home insuranceCensus ACS 2020-2024, Perris: $98 /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 change Perris's result?

Each line marks where Perris's 7-year result changes, while all other factors stay the same.

Renting comes out ahead when

Home price growth stays below 4.4% a year (the calculation uses 5.3%, California's long-run rate).
For mortgages, the rate remains above 8.53%.
This kind of home rents for less than $2,420 each month; the typical figure here is $2,846.
Your move happens before year 5.

When buying wins

Home prices rise by more than 4.4% a year.
A mortgage rate under 8.53% is locked in. The current rate is 7.24%.
The same home would rent for more than $2,420 a month.
You remain in the home for 5 years or more.

How Perris compares with the other 812 cities

Measure	Perris	Median city
Typical home value	$542,448	$422,451
Typical rent	$2,846 /mo	$1,837 /mo
Price-to-rent ratio	15.9 (#566 of 813)	18.5
Home prices, last 10 years	7% a year	6.2% a year
Property tax	0.83%	0.87%
Households that rent	31%	42%

Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.

Other California cities

Renting is ahead by $111k. Los Angeles, CA. Rent.
Renting is ahead by $108k. San Diego, CA. Rent.
Rent. San Jose, CA. Renting leads by $210k.
Rent. San Francisco, CA. Renting leads by $128k.
Buy. Fresno, CA. Buying leads by $22k.

California's rent vs buy numbers