Rent vs buy in St. George, UT
In Utah, St. George's typical rent is $1,798 /mo and its typical home price is $516,153.
Over 7 years, renting comes out $37k ahead
Based on typical rent and home value in St. George, assuming a 20% down payment and today's mortgage rate. The break-even point is year 12.
An opinion, clearly labelled, with the math shown. These are estimates, not quotes. Adjust any number and the stamp updates.
- Renting's lead
- $37k after 7 years
- When you break even
- 12th year when owning catches up
- What owning really costs
- $4,219 per month year 1, against $1,798 rent
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Should you rent or buy in St. George to spend less?
Counting what you get back when you sell, renting costs $37,132 less over 7 years. For the first 11 years, renting costs less. In year 12, owning pulls even.
Rent. Buy. Net cost by year so far.
St. George: average rent vs mortgage payment
At St. George's typical price, rent and mortgage payments don't tell the whole story. Here are all monthly costs in year 1.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,798 | All of it, every month |
| Mortgage payment | $2,814 | $2,480 of it is interest in year 1 |
| Property tax | $185 | 0.43% of the value a year |
| Insurance | $70 | Census median for the city |
| Upkeep | $430 | 1% of the value a year |
| Owning, cash out | $3,499 | $334 of it builds equity |
| Lost return on the down payment | $839 | What that cash would earn each year at 8.3% |
| Buying costs, spread out | $215 | 3.5% of the price over 7 years |
| True cost of owning | $4,219 | Cash out minus the equity part, plus the two entries just listed |
St. George verdict in numbers
- Typical home valueZillow ZHVI, September 2026
- $516,153
- Typical rentZillow ZORI, September 2026
- $1,798 /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, Utah, 1995 to 2025
- 5.1% 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. George
- 0.43% of value
- Home insuranceCensus ACS 2020-2024, St. George
- $70 /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
In St. George, what would flip the result?
Each line marks a tipping point for St. George's 7-year verdict. Everything else stays as it is.
When renting comes out ahead
- Prices for homes grow by less than 5.9% a year. We use Utah's long-run rate of 5.1%.
- The mortgage rate remains above 5.96%.
- For a home like this, monthly rent comes to under $2,200 (typical here: $1,798).
- Moving before year 12.
When buying comes out ahead
- Each year, home prices rise by more than 5.9%.
- Today's mortgage rate is 7.24%, while a rate below 5.96% is the one you lock in.
- The same home would cost over $2,200 a month to rent.
- You remain for 12 years or more.
How St. George compares with the other 812 cities
| Measure | St. George | Median city |
|---|---|---|
| Typical home value | $516,153 | $422,451 |
| Typical rent | $1,798 /mo | $1,837 /mo |
| Price-to-rent ratio | 23.9 (#167 of 813) | 18.5 |
| Home prices, last 10 years | 7% a year | 6.2% a year |
| Rents, last 5 years | 2.6% a year | 4% a year |
| Property tax | 0.43% | 0.87% |
| Households that rent | 33% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
More cities in Utah
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