Rent vs buy in Warren, MI
In Warren, Michigan, typical rent runs $1,369 /mo, with a typical home value of $196,749.
Buying comes out ahead by $7k over 7 years.
These figures use Warren's typical rent and home value, plus a 20% down payment and today's mortgage rate. Break-even point: year 6.
Clearly labelled opinion, with the math shown. Estimates, not quotes. Swap a number and the stamp changes with it.
- Owning is ahead by
- $7k after 7 years
- Break-even point
- year 6 when owning catches up
- What owning really costs
- $1,848 /mo year 1, against $1,369 rent
Change my numbers
Warren's typical rent and home value are the stamp's inputs. Changing your rent, price or years can flip it.
Your figures differ from the city's?
Type in a rent, a price and a down payment of your own. The stamp updates with them.
Is it cheaper to rent or buy in Warren?
Buying comes out $6,680 cheaper over 7 years, once you count what you get back when you sell. Owning's net cost falls under renting's in year 6 and remains lower from then on.
Rent. Own. Running net cost, year by year.
Warren's average rent compared with the mortgage payment
Rent and the mortgage don't tell the whole story, so here are all the monthly costs for year 1 at Warren's typical price.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,369 | All of it, every month |
| Mortgage payment | $1,073 | $945 of it is interest in year 1 |
| Property tax | $256 | 1.56% of the value a year |
| Insurance | $81 | Census median for the city |
| Upkeep | $164 | 1% of the value a year |
| Owning, cash out | $1,573 | $127 of it builds equity |
| Lost return on the down payment | $320 | The return the cash would earn yearly, at a rate of 8.3% |
| Buying costs, spread out | $82 | 3.5% of the price over 7 years |
| True cost of owning | $1,848 | Cash out, take out the equity part, then add the two lines above. |
The figures behind Warren's verdict
- Typical home valueZillow ZHVI, September 2026
- $196,749
- Typical rentZillow ZORI, September 2026
- $1,369 /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, Warren
- 1.56% of value
- Home insuranceCensus ACS 2020-2024, Warren
- $81 /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 flip the result in Warren?
Each line marks the point where Warren's 7-year verdict changes, with everything else left as it is.
Renting wins the comparison when
- Home prices grow by less than 3.3% each year (we use Michigan's long-run rate of 3.8%).
- The mortgage rate holds above 7.84%.
- Such a home costs less than $1,300 a month to rent ($1,369 is typical here).
- Your move happens before year 6.
Buying wins the comparison when
- Home prices grow by more than 3.3% a year.
- You lock in a mortgage rate under 7.84% (today's is 7.24%).
- You'd pay more than $1,300 a month to rent that same home.
- Staying 6 years or more.
Warren compared with the other 812 cities
| Measure | Warren | Median city |
|---|---|---|
| Typical home value | $196,749 | $422,451 |
| Typical rent | $1,369 /mo | $1,837 /mo |
| Price-to-rent ratio | 12.0 (#760 of 813) | 18.5 |
| Home prices, last 10 years | 7.9% a year | 6.2% a year |
| Rents, last 5 years | 4% a year | 4% a year |
| Property tax | 1.56% | 0.87% |
| Households that rent | 29% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
More cities across Michigan
- Buy. Detroit, MI. Buying comes out ahead by $72k.
- Rent. Grand Rapids, MI. Renting comes out ahead by $20k.
- Rent. Sterling Heights, MI. Renting is ahead by $32k.
- Rent. Ann Arbor, MI. Renting comes out ahead by $124k.
- Toss-up. Lansing, MI. It's close, but buying is ahead by $2k.
- Buy. Dearborn, MI. Buying comes out ahead by $18k.
- Rent. Livonia, MI. Renting comes out ahead by $26k.
- Rent. Troy, MI. Renting is ahead by $89k.
- Rent. Farmington Hills, MI. Renting comes out ahead by $95k.
- Rent. Westland, MI. Renting is ahead by $7k.
- Buy. Flint, MI. Buying comes out ahead by $39k.
- Rent. Wyoming, MI. Renting is ahead by $23k.