Rent vs buy in Santa Ana, CA
Santa Ana, California has a typical rent of $2,820 /mo and a typical home value of $858,641.
Renting comes out $69k ahead over 7 years
Today's mortgage rate and 20% down apply to the calculation, which uses Santa Ana's typical rent and typical home value. The break-even point arrives in year 12.
An opinion, clearly marked with the math shown. These are estimates, not quotes. The stamp updates whenever you change a number.
- Renting leads by
- $69k after 7 years
- Break-even point
- year 12 when owning catches up
- Full cost of ownership
- $7,076 /mo year 1, against $2,820 rent
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Is it cheaper to rent or buy in Santa Ana?
Over 7 years, renting costs $69,145 less after counting the money you get back when you sell. During the first 11 years, renting costs less. Owning catches up during year 12.
Renting Owning Net cost to date, by year.
Average rent compared with mortgage payment in Santa Ana
At Santa Ana's typical price, rent and mortgage don't cover every cost. Here are all monthly expenses for year 1.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $2,820 | All of it, every month |
| Mortgage payment | $4,681 | $4,126 of it is interest in year 1 |
| Property tax | $401 | 0.56% of the value a year |
| Insurance | $80 | Census median for the city |
| Upkeep | $716 | 1% of the value a year |
| Owning, cash out | $5,878 | $555 of it builds equity |
| Lost return on the down payment | $1,396 | Annual earnings on the cash at 8.3% |
| Buying costs, spread out | $358 | 3.5% of the price over 7 years |
| True cost of owning | $7,076 | Cash out after subtracting the equity part and adding the two lines above. |
Numbers that support the Santa Ana verdict
- Zillow ZHVI, September 2026 for typical home value
- $858,641
- Zillow ZORI, September 2026 for typical rent
- $2,820 /mo
- A 20% down payment avoids private mortgage insurance, which the engine doesn't model.
- 20%
- Mortgage rate from Freddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Growth in home pricesFHFA index of home prices, California, 1995 through 2025
- 5.3% yearly
- Rent growthCPI rent of primary residence, growth each year 2006 to 2026
- 3.5% yearly
- Savings returns use 10-year Treasuries at 40%, alongside S&P 500 with dividends at 60%; rebalanced yearly from 1928 to 2025.
- The yearly rate is 8.3%
- Property tax from Census ACS 2020-2024, Santa Ana
- 0.56% of the value
- Home insurance from Census ACS 2020-2024, Santa Ana
- $80 per month
- MaintenanceFannie Mae, lower estimate of 1% to 4%
- Each year, it equals 1% of value.
- Buying costsFreddie Mac, midpoint between 2% and 5%
- The price times 3.5%.
- Sales costs from agent commission and closing costs
- 6% of the price
What could change the result in Santa Ana?
Every line shows where the 7-year verdict changes in Santa Ana, with no other factor changed.
Renting comes out ahead when
- Home prices rise at a rate below 6.2% a year. Our calculation uses 5.3%, California's long-run figure.
- The mortgage rate remains higher than 5.81%.
- A home like this has a monthly rent below $3,560 (the local typical rent is $2,820).
- You make the move before year 12.
Buying has the edge when
- Home prices rise by more than 6.2% a year.
- You secure a mortgage rate under 5.81% (today's is 7.24%).
- The monthly rent for the same home would exceed $3,560.
- You remain for 12 years or more.
How Santa Ana compares with the other 812 cities
| Measure | Santa Ana | Median city |
|---|---|---|
| Typical home value | $858,641 | $422,451 |
| Typical rent | $2,820 /mo | $1,837 /mo |
| Price-to-rent ratio | 25.4 (#137 of 813) | 18.5 |
| Home prices, last 10 years | 7.1% a year | 6.2% a year |
| Rents, last 5 years | 4.6% a year | 4% a year |
| Property tax | 0.56% | 0.87% |
| Households that rent | 55% | 42% |
Data come from Zillow ZHVI and ZORI, Census ACS 2020-2024.
More California cities
- Renting is the choice. Los Angeles, CA has a renting advantage of $111k.
- Renting is the choice. San Diego, CA has a renting advantage of $108k.
- Renting is better in San Jose, CA, where it comes out ahead by $210k.
- Renting is better in San Francisco, CA, where it comes out ahead by $128k.
- Buying is better in Fresno, CA, where it comes out ahead by $22k.
- It's too close to call in Sacramento, CA, though renting is ahead by $3k.
- Renting is better in Long Beach, CA, where it comes out ahead by $111k.
- Renting is better in Oakland, CA, where it comes out ahead by $44k.
- Buying is better in Bakersfield, CA, where it comes out ahead by $11k.
- Renting is better in Anaheim, CA, where it comes out ahead by $115k.
- Buy. Stockton, CA. Buying is ahead by $16k.
- Renting is better in Riverside, CA, where it comes out ahead by $27k.