Rent vs buy in Pico Rivera, CA
California: the typical rent is $2,291 /mo and the typical home is $746,546 in Pico Rivera, California.
Renting comes out ahead by $82k over 7 years
Figures use 20% down and today's mortgage rate. Pico Rivera's typical rent and its home value provide the basis. The two costs match in year 15.
An opinion, clearly labelled, with the math shown. The figures are estimates, not quotes. If you change a number, the stamp changes with it.
- Renting leads by
- $82k after 7 years
- When costs match
- Year 15 when owning catches up
- Actual cost of ownership
- $6,221 /mo year 1, against $2,291 rent
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Is renting or buying cheaper in Pico Rivera?
After counting the money returned when you sell, renting costs $81,809 less over 7 years. For the first 14 years, renting costs less. By year 15, owning has caught up.
Renting. Owning. Net cost to date, by year.
Average rent and mortgage payment, Pico Rivera
In year 1, monthly costs go beyond both rent and the mortgage. Here are all of them at Pico Rivera's typical price.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $2,291 | All of it, every month |
| Mortgage payment | $4,070 | $3,588 of it is interest in year 1 |
| Property tax | $411 | 0.66% of the value a year |
| Insurance | $76 | Census median for the city |
| Upkeep | $622 | 1% of the value a year |
| Owning, cash out | $5,179 | $483 of it builds equity |
| Lost return on the down payment | $1,213 | Annual return on the cash: 8.3% |
| Buying costs, spread out | $311 | 3.5% of the price over 7 years |
| True cost of owning | $6,221 | Cash paid out, minus equity, plus the two amounts above |
The figures behind Pico Rivera's result
- Typical home valueZillow ZHVI, September 2026
- $746,546
- Typical rentZillow ZORI, September 2026
- $2,291 /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, Pico Rivera
- 0.66% of value
- Home insuranceCensus ACS 2020-2024, Pico Rivera
- $76 /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 flip the Pico Rivera result?
Each line shows where Pico Rivera's 7-year result changes, with all other values staying the same.
Renting is cheaper when
- Annual home price growth stays below 6.5% (our figure: 5.3%, California's long-run rate).
- Mortgage rates hold above 5.29%.
- A home like this has a monthly rent below $3,170 (the local typical is $2,291).
- Your move comes before year 15.
Buying is the better deal when
- Home prices rise at more than 6.5% a year.
- Your locked mortgage rate is below 5.29% (the current figure is 7.24%).
- The monthly rent for the same home would exceed $3,170.
- You stay for 15 years or more.
Pico Rivera compared with the other 812 cities
| Measure | Pico Rivera | Median city |
|---|---|---|
| Typical home value | $746,546 | $422,451 |
| Typical rent | $2,291 /mo | $1,837 /mo |
| Price-to-rent ratio | 27.2 (#103 of 813) | 18.5 |
| Home prices, last 10 years | 6.8% a year | 6.2% a year |
| Property tax | 0.66% | 0.87% |
| Households that rent | 29% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
More cities in California
- Rent. For Los Angeles, CA, renting comes out ahead by $111k.
- Rent. For San Diego, CA, renting comes out ahead by $108k.
- Rent. For San Jose, CA, renting comes out ahead by $210k.
- Rent. For San Francisco, CA, renting comes out ahead by $128k.
- Buy. For Fresno, CA, buying comes out ahead by $22k.
- Toss-up. Sacramento, CA. Renting ahead by $3k, a toss-up.
- Rent. Long Beach, CA. Renting is cheaper by $111k.
- Rent. Oakland, CA. Renting is cheaper by $44k.
- Buy. Bakersfield, CA. Buying is cheaper by $11k.
- Rent. Anaheim, CA. Renting is cheaper by $115k.
- Buy. Stockton, CA. Buying is cheaper by $16k.
- Rent. Riverside, CA. Renting is cheaper by $27k.