Rent vs buy in Toledo, OH
In Toledo, Ohio, the typical rent is $1,151 /mo and the typical home value is $131,766.
Buying comes out ahead by $21k over 7 years
Today's mortgage rate and 20% down apply, and the figures use Toledo's typical rent and typical home value. Break-even comes in year 4.
An opinion, clearly labelled, with the math shown. These are estimates, not quotes. Adjust any number and the stamp updates.
- Owning leads by
- $21k after 7 years
- Break-even point
- year 4 when owning catches up
- Actual cost of owning
- $1,269 /mo year 1, against $1,151 rent
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The stamp relies on two inputs from Toledo's market: typical rent and home value. Your choices for rent, price and years could reverse the result.
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Is it cheaper to rent or buy in Toledo?
Buying costs $20,653 less over 7 years when you include the money you get back from selling. In year 4, owning's net cost falls below renting's and remains lower.
If you rent. If you own. Net cost to date, shown year by year.
In Toledo, average rent versus mortgage payment
At Toledo's typical price, here is every monthly cost for year 1; rent and the mortgage are only part of it.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,151 | All of it, every month |
| Mortgage payment | $718 | $633 of it is interest in year 1 |
| Property tax | $178 | 1.62% of the value a year |
| Insurance | $79 | Census median for the city |
| Upkeep | $110 | 1% of the value a year |
| Owning, cash out | $1,085 | $85 of it builds equity |
| Lost return on the down payment | $214 | What the cash would earn yearly at 8.3% |
| Buying costs, spread out | $55 | 3.5% of the price over 7 years |
| True cost of owning | $1,269 | Cash out, minus the equity part, plus both lines listed above |
Figures behind the Toledo verdict
- Typical home value: Zillow ZHVI, September 2026
- $131,766
- Typical rent: Zillow ZORI, September 2026
- $1,151 each month
- A 20% down payment avoids private mortgage insurance, which the engine doesn't model.
- 20%
- Mortgage rate: Freddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Growth of home prices: FHFA index of house prices, Ohio, 1995 to 2025
- 3.5% each year
- How rent grows: CPI primary residence rent, yearly growth from 2006 to 2026
- 3.5% every year
- Return on savings60% S&P 500, dividends included, and 40% of 10-year Treasuries, rebalanced each year, 1928 to 2025
- a year: 8.3%
- Property tax: ACS 2020-2024, Toledo, Census
- 1.62% of the value
- Insurance for the home: ACS 2020-2024, Toledo, Census
- $79 a month
- Maintenance: Fannie Mae, at the low end of 1% to 4%
- A yearly 1% of value
- Buying costs: Freddie Mac, middle of the 2% to 5% range
- Price times 3.5%
- Selling costsAgent commission and closing costs
- 6% of the price
In Toledo, what would flip the result?
Each line shows where Toledo's 7-year verdict changes while all other factors stay the same.
Renting comes out ahead when
- Home prices grow more slowly than 1.3% a year. Our calculation uses 3.5%, Ohio's rate over the long run.
- A mortgage rate above 9.99% remains in place.
- Similar homes rent below $930 a month (here the typical rent is $1,151).
- Your move comes before year 4.
Buying comes out ahead when
- Each year, home prices grow by more than 1.3%.
- You lock a mortgage rate under 9.99% (today's rate is 7.24%).
- You'd pay more than $930 a month to rent that same home.
- You stay put for 4 years or longer.
How Toledo stacks up against the other 812 cities
| Measure | Toledo | Median city |
|---|---|---|
| Typical home value | $131,766 | $422,451 |
| Typical rent | $1,151 /mo | $1,837 /mo |
| Price-to-rent ratio | 9.5 (#795 of 813) | 18.5 |
| Home prices, last 10 years | 8% a year | 6.2% a year |
| Rents, last 5 years | 5.7% a year | 4% a year |
| Property tax | 1.62% | 0.87% |
| Households that rent | 47% | 42% |
Sources: Zillow's ZHVI and ZORI, Census ACS 2020-2024.
A look at other Ohio cities
- Renting comes out ahead by $12k in Columbus, OH.
- Home buying comes out ahead by $49k in Cleveland, OH.
- Renting comes out ahead by $19k in Cincinnati, OH.
- Home buying comes out ahead by $19k in Akron, OH.
- Home buying comes out ahead by $25k in Dayton, OH.
- Renting comes out ahead by $25k in Parma, OH.
- It's close in Canton, OH, with renting ahead by $2k.
- Home buying comes out ahead by $7k in Lorain, OH.
- Renting comes out ahead by $44k in Hamilton, OH.
- Home buying comes out ahead by $54k in Youngstown, OH.
- It's close in Springfield, OH, with renting ahead by $713.
- Rent wins by $34k in Kettering, OH.