Rent vs buy in Smyrna, TN
In Smyrna, Tennessee, the typical rent is $1,712 /mo and the typical home is $400,537.
Over 7 years, renting comes out ahead by $19k.
Today's mortgage rate and 20% down, applied to Smyrna's typical home value and rent. The break-even point arrives in year 10.
Our opinion is clearly labelled, and the math is shown. These are estimates, not quotes. Adjust any number, and the stamp updates.
- Lead for renting
- $19k after 7 years
- When costs match
- Year 10 when owning catches up
- What owning really costs
- $3,345 each month year 1, against $1,712 rent
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In Smyrna, is renting or buying cheaper?
Across 7 years, renting saves $18,923 after counting the money you get back when you sell. For the first 9 years, renting costs less. In year 10, owning catches up.
Rent. Buy. Running net cost for each year.
Smyrna's average rent compared with the mortgage payment
Rent and the mortgage don't tell the whole story, so every monthly cost in year 1 is listed at Smyrna's typical price.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,712 | All of it, every month |
| Mortgage payment | $2,184 | $1,925 of it is interest in year 1 |
| Property tax | $164 | 0.49% of the value a year |
| Insurance | $105 | Census median for the city |
| Upkeep | $334 | 1% of the value a year |
| Owning, cash out | $2,786 | $259 of it builds equity |
| Lost return on the down payment | $651 | What the cash would earn each year at 8.3% |
| Buying costs, spread out | $167 | 3.5% of the price over 7 years |
| True cost of owning | $3,345 | Cash out, minus equity, plus both lines listed above. |
The figures behind the Smyrna verdict
- Typical home valueZillow ZHVI, September 2026
- $400,537
- Typical rentZillow ZORI, September 2026
- $1,712 /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, Tennessee, 1995 to 2025
- 4.7% 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, Smyrna
- 0.49% of value
- Home insuranceCensus ACS 2020-2024, Smyrna
- $105 /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
Which changes would reverse the Smyrna result?
Every line marks the point where Smyrna's 7-year verdict changes, with all other factors held steady.
Renting comes out ahead when
- Annual home price growth remains below 5.3%; our estimate is 4.7%, Tennessee's long-term rate.
- The rate for mortgages stays over 6.40%.
- For a home like this, monthly rent stays below $1,910, and $1,712 is typical here.
- Before year 10, you move.
Buying comes out ahead when
- Each year, home prices grow faster than 5.3%.
- You lock in a rate under 6.40% (today's rate is 7.24%).
- For the same home, monthly rent would cost you more than $1,910.
- You stay for 10 years or longer.
How Smyrna compares with the other 812 cities
| Measure | Smyrna | Median city |
|---|---|---|
| Typical home value | $400,537 | $422,451 |
| Typical rent | $1,712 /mo | $1,837 /mo |
| Price-to-rent ratio | 19.5 (#357 of 813) | 18.5 |
| Home prices, last 10 years | 6.6% a year | 6.2% a year |
| Rents, last 5 years | 3.1% a year | 4% a year |
| Property tax | 0.49% | 0.87% |
| Households that rent | 43% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
More cities across Tennessee
- Rent. Nashville, TN. Renting comes out ahead by $24k.
- Buy. Memphis, TN. Buying comes out ahead by $36k.
- Rent. Knoxville, TN. Renting comes out ahead by $10k.
- Rent. Chattanooga, TN. Renting comes out ahead by $11k.
- Rent. Clarksville, TN. Renting comes out ahead by $19k.
- Rent. Murfreesboro, TN. Renting comes out ahead by $36k.
- Rent. Franklin, TN. Renting comes out ahead by $204k.
- Buying. Johnson City, TN. The $4k gap goes to buying.
- Buying. Jackson, TN. The $25k gap goes to buying.
- Rent. Hendersonville, TN. Renting comes out ahead by $77k.
- Renting. Spring Hill, TN. The $45k gap goes to renting.
- Buying has a $3k edge. Kingsport, TN. Toss-up.