Rent vs buy in Saratoga Springs, UT
Typical rent is $2,204 /mo and a typical home costs $553,482 in Saratoga Springs, Utah.
Over 7 years, renting comes out ahead by $12k
The calculation uses 20% down and today's mortgage rate with the typical home value and rent in Saratoga Springs's market. The break-even point arrives in year 9.
An opinion, clearly labelled, with the math shown. These figures are estimates, not quotes. Adjust any figure and the stamp updates with it.
- Renting leads by
- $12k after 7 years
- Break-even point
- year 9 when owning catches up
- Real cost of owning
- $4,501 a month year 1, against $2,204 rent
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The stamp relies on the typical rent and home value for Saratoga Springs's market. The result can flip based on your rent, price and years.
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Is renting or buying cheaper in Saratoga Springs?
Across 7 years, renting costs $11,822 less after including the money returned to you when you sell. For the first 8 years, renting costs less. By year 9, owning catches up.
Renting. Owning. Net cost to date, by year.
Average rent compared with a mortgage payment in Saratoga Springs
Rent and the mortgage don't tell the whole story. Here are all monthly costs for year 1 at the typical price in Saratoga Springs's market.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $2,204 | All of it, every month |
| Mortgage payment | $3,018 | $2,660 of it is interest in year 1 |
| Property tax | $180 | 0.39% of the value a year |
| Insurance | $70 | Census median for the city |
| Upkeep | $461 | 1% of the value a year |
| Owning, cash out | $3,729 | $358 of it builds equity |
| Lost return on the down payment | $900 | At 8.3% a year, this is what the cash would earn. |
| Buying costs, spread out | $231 | 3.5% of the price over 7 years |
| True cost of owning | $4,501 | Cash out, minus the equity portion, plus the two amounts listed above |
The figures behind the Saratoga Springs result
- Typical home valueZillow ZHVI, September 2026
- $553,482
- Typical rentZillow ZORI, September 2026
- $2,204 /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, Utah, 1995 to 2025
- 5.1% 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, Saratoga Springs
- 0.39% of value
- Home insuranceCensus ACS 2020-2024, Saratoga Springs
- $70 /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 Saratoga Springs, what would flip it?
Each line shows where the 7-year result in Saratoga Springs changes, while all other factors stay the same.
Renting comes out ahead when
- Home prices grow by less than 5.3% a year; for this, 5.1% is used, Utah's long-run rate.
- The rate for mortgages remains above 6.86%.
- A similar home rents for under $2,330 a month (the typical rate here is $2,204).
- Your move comes before year 9.
Buying takes the lead when
- Home prices rise by more than 5.3% each year.
- You lock in a rate under 6.86%; today's rate is 7.24%.
- For the same home, monthly rent would run above $2,330.
- You remain there 9 years or longer.
How Saratoga Springs compares with the other 812 cities
| Measure | Saratoga Springs | Median city |
|---|---|---|
| Typical home value | $553,482 | $422,451 |
| Typical rent | $2,204 /mo | $1,837 /mo |
| Price-to-rent ratio | 20.9 (#290 of 813) | 18.5 |
| Home prices, last 10 years | 6.3% a year | 6.2% a year |
| Property tax | 0.39% | 0.87% |
| Households that rent | 15% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
Other Utah cities
- Renting saves $83k in Salt Lake City, UT.
- Renting saves $39k in West Valley City, UT.
- Rent. West Jordan, UT. Renting comes out ahead by $65k.
- Rent. Provo, UT. Renting comes out ahead by $47k.
- Rent. St. George, UT. Renting comes out ahead by $37k.
- Rent. Orem, UT. Renting comes out ahead by $57k.
- Rent in Lehi, UT. Renting wins by $22k.
- Rent in Sandy, UT. Renting wins by $104k.
- In Ogden, UT, renting wins by $41k.
- Renting comes out ahead. South Jordan, UT. The gap is $67k.
- Renting comes out ahead. Layton, UT. The gap is $58k.
- Rent in Millcreek, UT. Renting wins by $116k.