Rent vs buy in Shawnee, KS
In Shawnee, Kansas, the typical rent is $1,497 /mo and the typical home is $423,555.
Over 7 years, renting comes out $100k ahead
These figures use Shawnee's typical rent and home value, plus 20% down and today's mortgage rate. No break-even point within 30 years.
An opinion, clearly marked and supported by the math. These figures are estimates, not quotes. Adjust any number and the stamp changes.
- Amount renting is ahead by
- $100k after 7 years
- Break-even point
- 30+ years owning never catches up sooner
- Full cost of owning
- $3,821 /mo year 1, against $1,497 rent
Change my numbers
The stamp draws on Shawnee's typical rent and home value. A different rent, price or time period can flip the result.
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Is renting or buying cheaper in Shawnee?
After counting the money you get back when you sell, renting costs $99,662 less over 7 years. Every year shown has a lower net cost for renting than for owning, and owning doesn't catch up during 30 years.
Renting option. Ownership option. Net cost to date, separated by year.
Average rent compared with mortgage payment in Shawnee
Rent and the mortgage don't tell the whole story. Here are all monthly costs in year 1 using Shawnee's typical price.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,497 | All of it, every month |
| Mortgage payment | $2,309 | $2,035 of it is interest in year 1 |
| Property tax | $402 | 1.14% of the value a year |
| Insurance | $165 | Census median for the city |
| Upkeep | $353 | 1% of the value a year |
| Owning, cash out | $3,230 | $274 of it builds equity |
| Lost return on the down payment | $688 | Annual earnings on the cash at 8.3% |
| Buying costs, spread out | $176 | 3.5% of the price over 7 years |
| True cost of owning | $3,821 | Cash out, with the equity portion deducted and the two lines above added. |
The figures behind Shawnee's result
- Typical home valueZillow ZHVI, September 2026
- $423,555
- Typical rentZillow ZORI, September 2026
- $1,497 /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, Kansas, 1995 to 2025
- 4% 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, Shawnee
- 1.14% of value
- Home insuranceCensus ACS 2020-2024, Shawnee
- $165 /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 change the result in Shawnee?
Each line marks where Shawnee's 7-year result changes, with all other factors remaining the same.
Renting costs less when
- Home prices grow at a slower rate than 6.8% a year. Our calculation uses 4%, Kansas's long-run rate.
- Above 2.99% is where the mortgage rate stays.
- A similar home rents for under $2,560 a month (the local typical rent is $1,497).
- Owning never catches up at these numbers if you move at any point during the next 30 years.
Buying costs less when
- The annual growth rate for home prices is faster than 6.8%.
- You lock in a mortgage rate under 2.99% (today's rate is 7.24%).
- If you rented the same home, it would cost more than $2,560 each month.
Shawnee compared against the other 812 cities
| Measure | Shawnee | Median city |
|---|---|---|
| Typical home value | $423,555 | $422,451 |
| Typical rent | $1,497 /mo | $1,837 /mo |
| Price-to-rent ratio | 23.6 (#187 of 813) | 18.5 |
| Home prices, last 10 years | 5.9% a year | 6.2% a year |
| Rents, last 5 years | 4.8% a year | 4% a year |
| Property tax | 1.14% | 0.87% |
| Households that rent | 26% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
Other cities across Kansas
- Renting wins. Wichita, KS. The difference is $14k overall.
- Renting wins. Overland Park, KS. The difference is $103k overall.
- It's a toss-up. Kansas City, KS. Buying is ahead by $1k overall.
- Renting wins. Olathe, KS. The difference is $76k overall.
- It's a toss-up. Topeka, KS. Renting is ahead by $2k overall.
- Renting wins. Lawrence, KS. The difference is $45k overall.
- Renting wins. Lenexa, KS. The difference is $108k overall.
- Renting wins. Manhattan, KS. The difference is $55k overall.