Rent vs buy in St. Clair Shores, MI
In St. Clair Shores, Michigan, the typical rent is $1,707 /mo and the typical home value is $227,664.
Over 7 years, buying comes out ahead by $23k
Today's mortgage rate and 20% down, plus St. Clair Shores's own typical rent and home value. The break-even point is year 4.
Our clearly labeled opinion includes the math. These figures are estimates, not quotes. Adjust any number, and the stamp changes with it.
- Owning comes out ahead by
- $23k after 7 years
- Point where costs balance
- year 4 when owning catches up
- Actual cost of owning
- $2,102 /mo year 1, against $1,707 rent
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The stamp draws on St. Clair Shores's typical rent and the typical home value. Your rent, price and number of years can change the result.
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In St. Clair Shores, is renting or buying cheaper?
Over 7 years, buying costs $22,521 less after counting the money returned when you sell. In year 4, owning's net cost falls below renting's and remains lower.
Rent. Own. Net cost to date, grouped by year.
St. Clair Shores: average rent vs mortgage payment
Rent and the mortgage don't cover everything, so here are all of the monthly costs for year 1, figured at St. Clair Shores's typical price.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,707 | All of it, every month |
| Mortgage payment | $1,241 | $1,094 of it is interest in year 1 |
| Property tax | $269 | 1.42% of the value a year |
| Insurance | $84 | Census median for the city |
| Upkeep | $190 | 1% of the value a year |
| Owning, cash out | $1,784 | $147 of it builds equity |
| Lost return on the down payment | $370 | The yearly return the cash would earn at 8.3% |
| Buying costs, spread out | $95 | 3.5% of the price over 7 years |
| True cost of owning | $2,102 | Subtract the equity part from cash out, then add the two lines above. |
The figures behind the St. Clair Shores verdict
- Typical home valueZillow ZHVI, September 2026
- $227,664
- Typical rentZillow ZORI, September 2026
- $1,707 /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, Michigan, 1995 to 2025
- 3.8% 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, St. Clair Shores
- 1.42% of value
- Home insuranceCensus ACS 2020-2024, St. Clair Shores
- $84 /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 alter the St. Clair Shores result?
Each line shows where the 7-year verdict for St. Clair Shores flips. Everything else is kept as it is.
Renting comes out ahead when
- Home prices rise by less than 2.5% each year, using 3.8%, Michigan's long-run rate, for the calculation.
- That mortgage rate stays above 8.98%.
- A comparable home rents for under $1,470 a month (the local typical rent is $1,707).
- Before year 4, you move.
Buying comes out ahead when
- Home prices rise by more than 2.5% a year.
- You secure a mortgage rate under 8.98% (today's rate is 7.24%).
- The monthly cost of renting this same home would exceed $1,470.
- You remain in the home for 4 years or more.
A city comparison including St. Clair Shores and 812 others
| Measure | St. Clair Shores | Median city |
|---|---|---|
| Typical home value | $227,664 | $422,451 |
| Typical rent | $1,707 /mo | $1,837 /mo |
| Price-to-rent ratio | 11.1 (#777 of 813) | 18.5 |
| Home prices, last 10 years | 6.9% a year | 6.2% a year |
| Property tax | 1.42% | 0.87% |
| Households that rent | 17% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
More cities in Michigan
- With a $72k buying advantage, Detroit in Michigan gets a Buy verdict.
- A $20k renting advantage makes Grand Rapids, MI a Rent city.
- Buy. In Warren, MI, buying wins by $7k.
- With a $32k renting advantage, Sterling Heights, MI gets a Rent verdict.
- Rent. In Ann Arbor, MI, renting wins by $124k.
- Buying in Lansing, MI leads by $2k, but the result is a Toss-up.
- The Buy verdict goes to Dearborn, MI, where buying wins by $18k.
- With a $26k renting advantage, Livonia, MI gets a Rent verdict.
- Renting wins by $89k in Troy, MI.
- The Rent verdict goes to the Farmington Hills, MI market, where renting wins by $95k.
- Renting wins by $7k in Westland, MI.
- Buy. In Flint, MI, buying wins by $39k.