Rent vs buy in Spring Hill, TN

The typical home in Spring Hill, Tennessee costs $518,832, with typical rent of $1,966 /mo.

Rent

Renting comes out ahead by $45k across 7 years

Based on typical rent and home value for Spring Hill's market, plus 20% down and today's mortgage rate. Year 14 marks the break-even point.

An opinion, clearly marked, with the math shown. These are estimates, not quotes. The stamp changes when you change a number.

Renting leads by: $45k
Break-even point: year 14
Actual cost of owning: $4,301 /mo

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Is renting or buying cheaper in Spring Hill?

Over 7 years, renting costs $45,149 less when you include the money returned when you sell. For the first 13 years, renting costs less. By year 14, owning catches up.

The choice is renting. The choice is owning. Year-by-year net cost so far.

Average rent vs mortgage payment for Spring Hill

The costs below cover more than just rent and the mortgage. They show every monthly expense in year 1 using Spring Hill's typical price.

Each month, year 1	Amount	What it is
Rent	$1,966	All of it, every month
Mortgage payment	$2,829	$2,493 of it is interest in year 1
Property tax	$199	0.46% of the value a year
Insurance	$117	Census median for the city
Upkeep	$432	1% of the value a year
Owning, cash out	$3,577	$335 of it builds equity
Lost return on the down payment	$843	Annual earnings on the cash at 8.3%
Buying costs, spread out	$216	3.5% of the price over 7 years
True cost of owning	$4,301	Cash out, minus the equity part, with the two lines above added.

The figures behind Spring Hill's verdict

Typical home value: Zillow ZHVI, September 2026: $518,832
Typical rent: Zillow ZORI, September 2026: $1,966 each month
With 20% down, you avoid private mortgage insurance; the engine leaves it out.: 20%
Mortgage rate: Freddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US): 7.24%
Growth in house pricesFHFA house price index, Tennessee, 1995 to 2025: Each year, 4.7%
Rent growth: CPI primary-residence rent, yearly change from 2006 through 2026: Each year: 3.5%
Savings return: 60% S&P 500, including dividends, plus 40% 10-year Treasuries, rebalanced each year from 1928 through 2025: Each year: 8.3%
Property tax: Census ACS 2020-2024, Spring Hill: 0.46% of the property's value
Home insurance: Census ACS 2020-2024, Spring Hill: Monthly cost: $117
MaintenanceFannie Mae, 1% to 4% at the low end: Each year: 1% of value
Buying costsFreddie Mac, midpoint of 2% to 5%: The cost comes to 3.5% of the price.
Selling costs: Agent commission plus closing costs: The cost comes to 6% of the price.

What would flip the result in Spring Hill?

Each line marks where Spring Hill's 7-year verdict changes, while all other factors stay the same.

When renting wins

Home price growth is under 5.7% a year (the calculation uses 4.7%, Tennessee's long-run growth rate).
The mortgage rate remains higher than 5.69%.
For a home like this, monthly rent costs less than $2,450; the typical cost here is $1,966.
Your move comes before year 14.

When buying wins

Home prices increase by more than 5.7% each year.
You lock a mortgage rate under 5.69% (today's is 7.24%).
The same home would cost more than $2,450 a month to rent.
You remain for 14 years or longer.

How Spring Hill compares with 812 other cities

Measure	Spring Hill	Median city
Typical home value	$518,832	$422,451
Typical rent	$1,966 /mo	$1,837 /mo
Price-to-rent ratio	22.0 (#246 of 813)	18.5
Home prices, last 10 years	6.6% a year	6.2% a year
Rents, last 5 years	2.1% a year	4% a year
Property tax	0.46%	0.87%
Households that rent	27%	42%

Zillow ZHVI and ZORI, Census ACS 2020-2024 are the sources.

More cities across Tennessee

For Clarksville, TN, renting comes out ahead by $19k.
Rent. Renting in Hendersonville, TN wins by $77k.

Tennessee rent vs buy numbers