Rent vs buy in Renton, WA
In Renton, Washington, the typical rent is $2,252 /mo and the typical home is $724,991.
Renting comes out $92k ahead over 7 years
Today's mortgage rate and 20% down apply, based on Renton's typical rent and home value. You reach break-even in year 17.
An opinion that's clearly labelled, with the math shown. These figures are estimates, not quotes. The stamp updates whenever you change a number.
- The amount renting is ahead by
- $92k after 7 years
- Break-even point
- year 17 when owning catches up
- Real cost of ownership
- $6,197 /mo year 1, against $2,252 rent
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In Renton, is renting or buying cheaper?
Over 7 years, renting saves $92,058 once you count the money you get back when you sell. For the first 16 years, renting costs less. By year 17, owning catches up.
It comes down to renting. Ownership Net cost by year so far.
Renton average rent compared with mortgage payment
Year 1 monthly costs at Renton's typical price include more than just rent and the mortgage. Here they are.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $2,252 | All of it, every month |
| Mortgage payment | $3,953 | $3,484 of it is interest in year 1 |
| Property tax | $538 | 0.89% of the value a year |
| Insurance | $91 | Census median for the city |
| Upkeep | $604 | 1% of the value a year |
| Owning, cash out | $5,186 | $469 of it builds equity |
| Lost return on the down payment | $1,178 | What the cash would earn each year at 8.3% |
| Buying costs, spread out | $302 | 3.5% of the price over 7 years |
| True cost of owning | $6,197 | The two lines above, plus cash out, less the equity part |
Numbers behind Renton's verdict
- Typical home valueZillow ZHVI, September 2026
- $724,991
- Typical rentZillow ZORI, September 2026
- $2,252 /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, Washington, 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, Renton
- 0.89% of value
- Home insuranceCensus ACS 2020-2024, Renton
- $91 /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
In Renton, what would flip it?
Each line marks where Renton's 7-year verdict flips, with all other factors held steady.
Renting comes out ahead when
- Home prices rise at under 6.7% a year (5.3%, Washington's long-run rate, is what we use).
- For mortgages, the rate stays above the 4.97% level.
- Monthly rent for a similar home falls under $3,240 (typical here: $2,252).
- Moving before year 17.
When buying comes out ahead
- Home prices increase by more than 6.7% a year.
- You lock in a mortgage rate under 4.97% (today's is 7.24%).
- The same home would cost over $3,240 a month to rent.
- Your stay lasts 17 years or longer.
Renton compared with the other 812 cities
| Measure | Renton | Median city |
|---|---|---|
| Typical home value | $724,991 | $422,451 |
| Typical rent | $2,252 /mo | $1,837 /mo |
| Price-to-rent ratio | 26.8 (#109 of 813) | 18.5 |
| Home prices, last 10 years | 6.5% a year | 6.2% a year |
| Rents, last 5 years | 2.9% a year | 4% a year |
| Property tax | 0.89% | 0.87% |
| Households that rent | 46% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
More cities in Washington
- In Seattle, WA, renting wins by $128k.
- In Spokane, WA, renting wins by $26k.
- In Tacoma, WA, renting wins by $41k.
- In Vancouver, WA, renting wins by $39k.
- In Bellevue, WA, renting wins by $294k.
- In Kent, WA, renting wins by $83k.
- In Everett, WA, renting wins by $77k.
- In Spokane Valley, WA, renting wins by $30k.
- In Federal Way, WA, renting wins by $61k.
- In Yakima, WA, renting wins by $27k.
- In Bellingham, WA, renting wins by $85k.
- Rent. Renting wins by $218k in Kirkland, WA.