Rent vs buy in St. Petersburg, FL
In St. Petersburg, Florida data shows a typical rent of $2,039 /mo and typical home price of $351,862.
Over 7 years, buying comes out $41k ahead
Today's mortgage rate applies, with 20% down and the typical rent and home value in St. Petersburg. The break-even point is year 4.
Clearly labeled opinion with the math shown. Estimates, not quotes. The stamp updates when you change a number.
- Owning leads by
- $41k after 7 years
- Break-even point
- year 4 when owning catches up
- What owning really costs
- $3,088 /mo year 1, against $2,039 rent
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Which costs less in St. Petersburg, renting or buying?
Across 7 years, buying costs $40,886 less. This includes the money you get back when you sell. In year 4, owning's net cost falls below renting's and remains lower.
The renting option. Owning it. Net cost through each year to date.
Average rent compared with mortgage payment in St. Petersburg
Year 1 includes every monthly cost at St. Petersburg's typical price, not just rent and mortgage payments.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $2,039 | All of it, every month |
| Mortgage payment | $1,918 | $1,691 of it is interest in year 1 |
| Property tax | $194 | 0.66% of the value a year |
| Insurance | $192 | Census median for the city |
| Upkeep | $293 | 1% of the value a year |
| Owning, cash out | $2,597 | $227 of it builds equity |
| Lost return on the down payment | $572 | At 8.3% a year, this is what the cash would earn. |
| Buying costs, spread out | $147 | 3.5% of the price over 7 years |
| True cost of owning | $3,088 | Cash out, subtract the equity part and add the two lines above. |
The St. Petersburg verdict, in numbers
- Typical home valueZillow ZHVI, September 2026
- $351,862
- Typical rentZillow ZORI, September 2026
- $2,039 /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, Florida, 1995 to 2025
- 5.4% 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. Petersburg
- 0.66% of value
- Home insuranceCensus ACS 2020-2024, St. Petersburg
- $192 /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. Petersburg, what would flip it?
Every line shows where the 7-year verdict for St. Petersburg changes. All else stays the same.
When renting wins
- Home price growth stays under 4.0% a year; the calculation uses Florida's long-run rate of 5.4%.
- The mortgage rate remains higher than 9.28%.
- For a similar home, rent is less than $1,600 monthly (typical here: $2,039).
- Your move happens before year 4.
When buying wins
- Home prices rise by more than 4.0% a year.
- You secure a mortgage rate under 9.28% (today's is 7.24%).
- You'd pay over $1,600 a month to rent the same home.
- You remain in the home for 4 years or longer.
How St. Petersburg compares with the other 812 cities
| Measure | St. Petersburg | Median city |
|---|---|---|
| Typical home value | $351,862 | $422,451 |
| Typical rent | $2,039 /mo | $1,837 /mo |
| Price-to-rent ratio | 14.4 (#660 of 813) | 18.5 |
| Home prices, last 10 years | 7.1% a year | 6.2% a year |
| Rents, last 5 years | 4.2% a year | 4% a year |
| Property tax | 0.66% | 0.87% |
| Households that rent | 37% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
More Florida cities
- Buying comes out ahead in Jacksonville, FL by $27k.
- Buying comes out ahead in Miami, FL by $27k.
- Buying comes out ahead in Tampa, FL by $19k.
- Buying comes out ahead in Orlando, FL by $17k.
- Buying comes out ahead in Port St. Lucie, FL by $48k.
- Buying comes out ahead in Hialeah, FL by $37k.
- Buying comes out ahead in Cape Coral, FL by $36k.
- Buying comes out ahead in Tallahassee, FL by $11k.
- Buying comes out ahead in Fort Lauderdale, FL by $25k.
- Buying comes out ahead in Pembroke Pines, FL by $22k.
- Buying comes out ahead in Hollywood, FL by $17k.
- Buying comes out ahead in Gainesville, FL by $24k.