Rent vs buy in St. Louis, MO
In St. Louis, Missouri, typical rent is $1,292 /mo and a typical home costs $181,157.
Buying comes out ahead by $16k over 7 years
Based on St. Louis's usual rent and home price, the calculation includes 20% down and today's mortgage rate. The break-even point is year 5.
Clearly labeled opinion with the math shown. These are estimates, not quotes. The stamp changes whenever a number changes.
- Owning comes out ahead by
- $16k after 7 years
- Break-even point
- year 5 when owning catches up
- Full cost of owning
- $1,666 /mo year 1, against $1,292 rent
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Which costs less in St. Louis, renting or buying?
Over 7 years, buying costs $15,720 less once you include the money returned when you sell. In year 5, owning's net cost falls below renting's and remains lower.
Renting. Owning. The cumulative net cost for each year.
St. Louis average rent compared with the mortgage payment
Rent and the mortgage don't tell the full story. All monthly costs for year 1 at St. Louis's typical home price are shown below.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,292 | All of it, every month |
| Mortgage payment | $988 | $871 of it is interest in year 1 |
| Property tax | $155 | 1.03% of the value a year |
| Insurance | $119 | Census median for the city |
| Upkeep | $151 | 1% of the value a year |
| Owning, cash out | $1,413 | $117 of it builds equity |
| Lost return on the down payment | $294 | The yearly return on that cash at 8.3% |
| Buying costs, spread out | $75 | 3.5% of the price over 7 years |
| True cost of owning | $1,666 | Cash out, minus the equity portion, plus the two amounts above |
The figures behind St. Louis's result
- Typical home valueZillow ZHVI, September 2026
- $181,157
- Typical rentZillow ZORI, September 2026
- $1,292 /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, Missouri, 1995 to 2025
- 4% 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. Louis
- 1.03% of value
- Home insuranceCensus ACS 2020-2024, St. Louis
- $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 make St. Louis's result go the other way?
With everything else unchanged, each line marks the point where St. Louis's 7-year verdict changes.
Renting comes out ahead when
- Home prices rise at less than 2.9% yearly; the calculation uses 4%, based on Missouri's rate over the long term.
- The mortgage rate remains above 8.77%.
- A similar home rents for under $1,120 a month (the local typical rent is $1,292).
- Your move happens before year 5 begins.
When buying comes out ahead
- Home prices rise by more than 2.9% a year.
- You secure a mortgage rate under 8.77%; today's is 7.24%.
- You would pay more than $1,120 a month to rent the same home.
- You remain in the home for 5 years or longer.
How St. Louis compares with the other 812 cities
| Measure | St. Louis | Median city |
|---|---|---|
| Typical home value | $181,157 | $422,451 |
| Typical rent | $1,292 /mo | $1,837 /mo |
| Price-to-rent ratio | 11.7 (#768 of 813) | 18.5 |
| Home prices, last 10 years | 5.1% a year | 6.2% a year |
| Rents, last 5 years | 4.9% a year | 4% a year |
| Property tax | 1.03% | 0.87% |
| Households that rent | 55% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
More cities in Missouri
- Renting wins by $9k in Kansas City, MO.
- Renting wins by $20k in Springfield, MO.
- Renting wins by $39k in Columbia, MO.
- Buying wins by $9k in Independence, MO.
- Renting wins by $72k in Lee's Summit, MO.
- Renting wins by $41k in O'Fallon, MO.
- Renting wins by $53k in St. Charles, MO.
- Renting wins by $8k in St. Joseph, MO.
- Renting wins by $25k in St. Peters, MO.
- Renting wins by $16k in Blue Springs, MO.
- It's a toss-up in Joplin, MO, with renting ahead by $3k.
- Buying wins by $37k in Florissant, MO.