Rent vs buy in White Plains, NY
White Plains, New York shows a typical rent of $3,301 /mo and a typical home price of $801,563.
Over 7 years, renting comes out ahead by $106k
Today's mortgage rate and 20% down are applied to White Plains's typical figures for rent and home value. The break-even point comes in year 21.
An opinion, clearly labeled, with the math shown. These are estimates, not quotes. The stamp updates whenever you change a number.
- Ahead with renting
- $106k after 7 years
- The break-even point
- the year 21 when owning catches up
- What home ownership really costs
- $7,329 each month year 1, against $3,301 rent
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Is renting or buying cheaper in White Plains?
Over 7 years, renting costs $106,022 less, counting the money you get back when you sell. For the first 20 years, renting is the cheaper choice. In year 21, owning catches up.
Rent. Buy. Net cost to date, by year.
White Plains: average rent compared with mortgage payment
Rent and the mortgage don't tell the whole story. Using White Plains's typical price, here are all monthly costs for year 1.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $3,301 | All of it, every month |
| Mortgage payment | $4,370 | $3,852 of it is interest in year 1 |
| Property tax | $1,075 | 1.61% of the value a year |
| Insurance | $97 | Census median for the city |
| Upkeep | $668 | 1% of the value a year |
| Owning, cash out | $6,211 | $518 of it builds equity |
| Lost return on the down payment | $1,303 | Cash earnings at 8.3% a year |
| Buying costs, spread out | $334 | 3.5% of the price over 7 years |
| True cost of owning | $7,329 | Cash out, minus the equity portion, plus both lines above |
The White Plains verdict in numbers
- Typical home valueZillow ZHVI, September 2026
- $801,563
- Typical rentZillow ZORI, September 2026
- $3,301 /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, New York, 1995 to 2025
- 4.8% 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, White Plains
- 1.61% of value
- Home insuranceCensus ACS 2020-2024, White Plains
- $97 /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 change the result in White Plains?
Each line marks a change in the 7-year verdict for White Plains, while everything else stays as it is.
Renting is ahead when
- Growth in home prices runs below 6.4% a year, using New York's long-run rate of 4.8%.
- The mortgage rate remains above 4.88%.
- A home like this has a monthly rent under $4,440, while the typical local rent is $3,301.
- Your move happens before year 21.
Buying comes out ahead when
- Home prices grow by more than 6.4% a year.
- A mortgage rate under 4.88% is locked in (today's is 7.24%).
- The same home would cost over $4,440 a month to rent.
- You stay 21 years or more.
How White Plains compares with the other 812 cities
| Measure | White Plains | Median city |
|---|---|---|
| Typical home value | $801,563 | $422,451 |
| Typical rent | $3,301 /mo | $1,837 /mo |
| Price-to-rent ratio | 20.2 (#326 of 813) | 18.5 |
| Home prices, last 10 years | 4.6% a year | 6.2% a year |
| Rents, last 5 years | 4.1% a year | 4% a year |
| Property tax | 1.61% | 0.87% |
| Households that rent | 49% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
More cities in New York
- It's a toss-up. Buying leads by $5k in New York City, NY.
- Buying wins by $15k. Buffalo NY. Buy.
- Renting wins by $125k. Yonkers NY. Rent.
- Renting wins by $4k. Rochester NY. Rent.
- Buying wins by $14k. Syracuse NY. Buy.
- Renting wins by $34k. Albany NY. Rent.
- Rent. New Rochelle, NY. Here renting wins by $197k.
- Rent. Renting wins by $87k in Mount Vernon, NY.
- Rent. Schenectady, NY. Here renting wins by $67k.
- Buy. Utica, NY. Here buying wins by $8k.
- Rent. Hempstead, NY. Here renting wins by $78k.
- Rent. Troy, NY. Here renting wins by $38k.