Rent vs buy in Richland, WA
In Richland, Washington, typical rent is $1,697 /mo and a typical home is $462,807.
Renting comes out ahead by $34k over 7 years
Using Richland's typical rent and home value, plus 20% down and today's mortgage rate. Year 12 marks the break-even point.
An opinion, clearly labelled, with the math shown. These are estimates, not quotes. If you change a number, the stamp changes too.
- Renting is ahead by
- $34k after 7 years
- Break-even point
- year 12 when owning catches up
- Real cost of owning
- $3,960 /mo year 1, against $1,697 rent
Change my numbers
The stamp relies on the typical rent and home value for Richland's market. Your rent, price and number of years may change the result.
Do you have different numbers from the city's?
Put in your own figures for rent, price and down payment. Those figures change the stamp.
Is renting or buying cheaper in Richland?
Over 7 years, renting saves $34,440 once you count the money you get back when you sell. For the first 11 years, renting costs less. By year 12, owning catches up.
Renting. Owning. Net cost by year so far.
Average rent compared with mortgage payment in Richland
Rent and mortgage payments don't tell the whole story. Every monthly cost for year 1 at Richland's typical price is listed.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,697 | All of it, every month |
| Mortgage payment | $2,523 | $2,224 of it is interest in year 1 |
| Property tax | $312 | 0.81% of the value a year |
| Insurance | $93 | Census median for the city |
| Upkeep | $386 | 1% of the value a year |
| Owning, cash out | $3,314 | $299 of it builds equity |
| Lost return on the down payment | $752 | What the cash would earn each year at 8.3% |
| Buying costs, spread out | $193 | 3.5% of the price over 7 years |
| True cost of owning | $3,960 | Cash out, minus the equity portion, plus both items listed above |
The figures that shaped Richland's verdict
- Typical home valueZillow ZHVI, September 2026
- $462,807
- Typical rentZillow ZORI, September 2026
- $1,697 /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, Richland
- 0.81% of value
- Home insuranceCensus ACS 2020-2024, Richland
- $93 /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 reverse the result in Richland?
Each line shows the point where Richland's 7-year verdict changes. Everything else stays the same.
Renting comes out ahead when
- Home prices rise at under 6.2% a year (5.3% is Washington's long-run rate, and that's what we use).
- The mortgage rate remains above 5.92%.
- For a home like this, rent runs under $2,070 a month; $1,697 is what rent typically costs here.
- Before year 12, you move.
Buying is the better choice when
- Each year, home prices grow faster than 6.2%.
- Today's rate is 7.24%, and you lock in below 5.92%.
- If you rented the same home, you'd pay more than $2,070 a month.
- You remain there for 12 years or more.
812 other cities compared with Richland
| Measure | Richland | Median city |
|---|---|---|
| Typical home value | $462,807 | $422,451 |
| Typical rent | $1,697 /mo | $1,837 /mo |
| Price-to-rent ratio | 22.7 (#215 of 813) | 18.5 |
| Home prices, last 10 years | 6.5% a year | 6.2% a year |
| Rents, last 5 years | 2.7% a year | 4% a year |
| Property tax | 0.81% | 0.87% |
| Households that rent | 36% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
Additional cities in Washington
- Rent. Seattle, WA. The difference comes to $128k in favor of renting.
- Rent. Spokane, WA. The difference comes to $26k in favor of renting.
- Rent. Tacoma, WA. The difference comes to $41k in favor of renting.
- Rent. Vancouver, WA. The difference comes to $39k in favor of renting.
- Rent. Bellevue, WA. The difference comes to $294k in favor of renting.
- Rent. Kent, WA. The difference comes to $83k in favor of renting.
- Rent. Everett, WA. The difference comes to $77k in favor of renting.
- Rent. Spokane Valley, WA. The difference comes to $30k in favor of renting.
- Rent. Renton, WA. The difference comes to $92k in favor of renting.
- Rent. Federal Way, WA. The difference comes to $61k in favor of renting.
- Rent. Yakima, WA. The difference comes to $27k in favor of renting.
- Rent. Bellingham, WA. The difference comes to $85k in favor of renting.