Rent vs buy in Pharr, TX

In Texas, the typical rent in Pharr, Texas is $1,116 /mo and the typical home is $160,714.

Buy

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

With a 20% down payment and today's mortgage rate, based on Pharr's usual rent and home value. It breaks even in year 6.

Clearly labelled opinion, with the math shown. These are estimates, not quotes. Change any number and the stamp updates.

Owning leads by: $7k
Break-even point: In year 6
Actual cost of owning: $1,615 /mo

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Pharr's typical rent and home value are the stamp's inputs. Your rent, price and time period can reverse the result.

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Is renting or buying cheaper in Pharr?

Counting the money you get back when you sell, buying costs $6,816 less over 7 years. In year 6, owning's net cost falls below renting's and stays lower.

The result: renting. Home ownership. Net cost to date, shown by year.

Pharr: average rent vs mortgage payment

The rent and mortgage don't tell you everything. Here are all monthly costs for year 1, based on Pharr's typical price.

Each month, year 1	Amount	What it is
Rent	$1,116	All of it, every month
Mortgage payment	$876	$772 of it is interest in year 1
Property tax	$279	2.08% of the value a year
Insurance	$102	Census median for the city
Upkeep	$134	1% of the value a year
Owning, cash out	$1,391	$104 of it builds equity
Lost return on the down payment	$261	At 8.3% a year, that's what the cash could earn.
Buying costs, spread out	$67	3.5% of the price over 7 years
True cost of owning	$1,615	Cash paid out, minus the equity share, plus both lines listed above

The Pharr result in numbers

Typical home valueZillow ZHVI, September 2026: $160,714
Typical rentZillow ZORI, September 2026: $1,116 /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, Texas, 1995 to 2025: 4.7% 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, Pharr: 2.08% of value
Home insuranceCensus ACS 2020-2024, Pharr: $102 /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 the Pharr result?

Each line marks where the 7-year verdict in Pharr flips, while everything else stays the same.

When renting wins

Our calculation uses 4.7%, Texas's rate over the long run. Home prices grow by less than 4.2% a year.
The mortgage rate remains above 7.99%.
Renting a similar home costs under $1,040 monthly (the typical rate here is $1,116).
You relocate before year 6.

When buying wins

Home prices grow at a faster pace than 4.2% a year.
You lock in a rate below 7.99% for your mortgage; today's rate is 7.24%.
The same home would cost more than $1,040 a month to rent.
You stay for 6 years or more.

812 other cities compared with Pharr

Measure	Pharr	Median city
Typical home value	$160,714	$422,451
Typical rent	$1,116 /mo	$1,837 /mo
Price-to-rent ratio	12.0 (#759 of 813)	18.5
Home prices, last 10 years	6.7% a year	6.2% a year
Property tax	2.08%	0.87%
Households that rent	41%	42%

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

More Texas cities

Toss-up. Houston, TX. It's close, but renting leads by $2k.
For San Antonio, TX, the verdict is rent, with renting ahead by $10k.
Rent. Dallas, TX. The gap favors renting by $20k.
Rent. Fort Worth, TX. The gap favors renting by $17k.
Rent. Austin, TX. The gap favors renting by $111k.
Rent. Arlington, TX. The gap favors renting by $34k.

Texas rent vs buy numbers