Rent vs buy in Wichita, KS
In Wichita, Kansas, the typical rent is $1,159 /mo and the typical home is $204,831.
Renting comes out ahead by $14k over 7 years
The inputs include Wichita's typical rent and home value, plus 20% down and today's mortgage rate. You reach break-even in year 12.
An opinion, clearly labelled, with the math shown. These are estimates, not quotes. The stamp updates whenever you change a number.
- Renting comes out ahead by
- $14k after 7 years
- Break-even point
- year 12 when owning catches up
- Actual cost of owning
- $1,926 /mo year 1, against $1,159 rent
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Is it cheaper to rent or buy in Wichita?
Renting costs $14,218 less over 7 years, including the money you get back when you sell. For the first 11 years, renting costs less. By year 12, owning catches up.
Renting. Owning. Net cost through each year.
Average rent compared with mortgage payments in Wichita
Rent and the mortgage don't tell the whole story. Here are all monthly costs at Wichita's typical price for year 1.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,159 | All of it, every month |
| Mortgage payment | $1,117 | $984 of it is interest in year 1 |
| Property tax | $200 | 1.17% of the value a year |
| Insurance | $153 | Census median for the city |
| Upkeep | $171 | 1% of the value a year |
| Owning, cash out | $1,640 | $132 of it builds equity |
| Lost return on the down payment | $333 | At 8.3% a year, what the cash would earn |
| Buying costs, spread out | $85 | 3.5% of the price over 7 years |
| True cost of owning | $1,926 | Cash paid out, minus the equity portion, plus the two items above |
The figures behind Wichita's verdict
- Typical home value: Zillow ZHVI, September 2026
- $204,831
- Typical rent: Zillow ZORI, September 2026
- $1,159 /mo
- Down payment: 20% means no private mortgage insurance, and the engine doesn't include it.
- 20%
- Mortgage rate: Freddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Growth in home pricesFHFA's house price index for Kansas, 1995 through 2025
- Each year: 4%
- Rent growth: CPI source for rent of primary residence, with yearly growth from 2006 to 2026.
- Each year: 3.5%
- Savings return: Investment mix. It uses 60% S&P 500 with dividends plus 40% 10-year Treasuries, rebalanced yearly from 1928 to 2025.
- 8.3% each year
- Property tax: Census ACS 2020-2024, Wichita
- 1.17% of the value
- Home insurance: Census ACS 2020-2024, Wichita
- Each month costs $153
- Maintenance: Fannie Mae, low end of 1% to 4%
- Yearly amount: 1% of value
- Buying costs: Freddie Mac, at the midpoint of 2% to 5%.
- The rate is 3.5% of the home's price.
- Selling costsAgent commission and closing costs
- 6% of the price
What could flip the Wichita verdict?
Each line marks where Wichita's 7-year verdict flips, with everything else staying as it is.
When renting comes out ahead
- This case applies when home prices grow by less than 4.9% a year (our calculation uses 4%, Kansas's long-run rate).
- The rate stays above 6.01% for the mortgage.
- A similar home rents for under $1,310 each month (the local typical rent is $1,159).
- Before year 12, you move.
When buying comes out ahead
- Home prices increase by more than 4.9% a year.
- You secure a mortgage rate under 6.01% (today's is 7.24%).
- The same home would cost more than $1,310 a month to rent.
- You remain there for 12 years or more.
Wichita compared with the other 812 cities
| Measure | Wichita | Median city |
|---|---|---|
| Typical home value | $204,831 | $422,451 |
| Typical rent | $1,159 /mo | $1,837 /mo |
| Price-to-rent ratio | 14.7 (#639 of 813) | 18.5 |
| Home prices, last 10 years | 6.3% a year | 6.2% a year |
| Rents, last 5 years | 5.1% a year | 4% a year |
| Property tax | 1.17% | 0.87% |
| Households that rent | 41% | 42% |
Data from Zillow's ZHVI and ZORI, Census ACS 2020-2024.
Other Kansas cities
- Rent. Overland Park, KS. Renting leads by $103k.
- Toss-up in Kansas City, KS, with buying ahead by $1k.
- Rent result: Olathe, KS, with a $76k advantage for renting.
- Toss-up in Topeka, KS, with renting ahead by $2k.
- Rent result: Lawrence, KS, with a $45k advantage for renting.
- Rent. Shawnee, KS. Renting comes out ahead by $100k.
- Rent. Lenexa, KS. Renting comes out ahead by $108k.
- Renting leads in Manhattan, KS with a $55k advantage.