Rent vs buy in Simi Valley, CA
In Simi Valley, California, a typical home is $829,804, while the typical monthly rent is $2,778.
Renting is ahead by $76k across 7 years
The calculation relies on Simi Valley's figures for typical rent and home value, plus 20% down and today's mortgage rate. The break-even point arrives in year 13.
This is a clearly labeled opinion, and the math is shown. These figures are estimates rather than quotes. Any number you alter will also alter the stamp.
- Renting leads by
- $76k after 7 years
- Point of break-even
- The 13th year when owning catches up
- Actual ownership cost
- Monthly figure: $6,984 /mo year 1, against $2,778 rent
Change my numbers
Simi Valley's normal rent and home value determine the stamp. Your rent, purchase price and time period can reverse the result.
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Is it cheaper to rent or buy in Simi Valley?
Over 7 years, renting costs $75,631 less when you include the money returned after you sell. For the first 12 years, renting costs less. By year 13, owning catches up.
Rent. Buying. Year-by-year net cost so far.
Simi Valley average rent and mortgage payment
The rent and mortgage aren't the whole story. Using Simi Valley's typical price, here are all monthly costs for year 1.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $2,778 | All of it, every month |
| Mortgage payment | $4,524 | $3,988 of it is interest in year 1 |
| Property tax | $491 | 0.71% of the value a year |
| Insurance | $119 | Census median for the city |
| Upkeep | $692 | 1% of the value a year |
| Owning, cash out | $5,826 | $536 of it builds equity |
| Lost return on the down payment | $1,349 | Annual earnings on the cash at 8.3% |
| Buying costs, spread out | $346 | 3.5% of the price over 7 years |
| True cost of owning | $6,984 | Cash out after removing the equity part, then add the two lines above |
Simi Valley verdict numbers
- Typical home valueZillow ZHVI, September 2026
- $829,804
- Typical rentZillow ZORI, September 2026
- $2,778 /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, California, 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, Simi Valley
- 0.71% of value
- Home insuranceCensus ACS 2020-2024, Simi Valley
- $119 /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 Simi Valley result?
Each line marks where the 7-year verdict for Simi Valley would change, while all other factors remain unchanged.
Renting comes out ahead when
- With growth below 6.3% a year, home prices rise more slowly. We use California's long-run rate of 5.3%.
- The mortgage rate remains above 5.62%.
- For a home like this, rent is less than $3,590 a month. The typical amount here is $2,778.
- Your move happens before year 13.
Buying comes out ahead when
- Home prices grow at a pace above 6.3% each year.
- Today's mortgage rate is 7.24%. You lock it below 5.62%.
- Renting this same home would cost more than $3,590 a month.
- Staying for 13 years or more.
Simi Valley compared with the other 812 cities
| Measure | Simi Valley | Median city |
|---|---|---|
| Typical home value | $829,804 | $422,451 |
| Typical rent | $2,778 /mo | $1,837 /mo |
| Price-to-rent ratio | 24.9 (#145 of 813) | 18.5 |
| Home prices, last 10 years | 4.5% a year | 6.2% a year |
| Rents, last 5 years | 3.2% a year | 4% a year |
| Property tax | 0.71% | 0.87% |
| Households that rent | 27% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
More cities in California
- Rent. Renting wins by $111k in Los Angeles, CA.
- Rent. Renting wins by $108k in San Diego, CA.
- Rent. Renting wins by $210k in San Jose, CA.
- Rent. Renting wins by $128k in San Francisco, CA.
- Buying has the edge in Fresno, CA: $22k.
- It's close in Sacramento, CA, but renting leads by $3k.
- Renting has the edge in Long Beach, CA: $111k.
- Renting has the edge in Oakland, CA: $44k.
- Buy. Bakersfield, CA. Here, buying wins by $11k.
- Rent. Anaheim, CA. Here, renting wins by $115k.
- Buy. Stockton, CA. Here, buying wins by $16k.
- Renting has the edge in Riverside, CA: $27k.