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Rent vs buy in Yakima, WA

A typical home in Yakima, Washington, costs $358,493, and typical rent runs $1,330 /mo.

Rent vs buy Yakima verdict card: Renting comes out $27k ahead over 7 years
Rent

Renting comes out $27k ahead over 7 years

With rent and home value at Yakima's typical levels, plus 20% down and today's mortgage rate. Year 12 is the break-even point.

Clearly labelled opinion, with the math shown. These are estimates, not quotes. The stamp updates when you change a number.

Renting is ahead by
$27k
after 7 years
Break-even point
The 12th year
when owning catches up
What owning really costs
$3,085 a month
year 1, against $1,330 rent

Change my numbers

The stamp is based on rent and home value at Yakima's typical levels. Depending on your rent, price and years, the result can flip.

Do these figures differ from the city's?

Enter your own rent, price and down payment. Your entries change the stamp.

In Yakima, is renting or buying cheaper?

Counting the money you get back when you sell, renting is $26,613 cheaper over 7 years. For the first 11 years, renting costs less. In year 12, owning catches up.

Rent The owning side Net cost by year so far

$0$50k$100k$150kyr 1yr 3yr 5yr 7yr 9yr 11yr 13yr 15

Comparing average rent with the mortgage payment in Yakima

Rent and the mortgage don't tell the whole story. Every monthly cost for year 1 shows up below, priced at Yakima's typical price.

Each month, year 1AmountWhat it is
Rent$1,330All of it, every month
Mortgage payment$1,954$1,723 of it is interest in year 1
Property tax$2390.8% of the value a year
Insurance$92Census median for the city
Upkeep$2991% of the value a year
Owning, cash out$2,584$232 of it builds equity
Lost return on the down payment$583The yearly return on that cash, at 8.3%
Buying costs, spread out$1493.5% of the price over 7 years
True cost of owning$3,085Cash out, minus the equity share, plus the two lines listed above

The Yakima verdict, in numbers

Typical home valueZillow ZHVI, September 2026
$358,493
Typical rentZillow ZORI, September 2026
$1,330 /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, Washington, 1995 to 2025
5.3% 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, Yakima
0.8% of value
Home insuranceCensus ACS 2020-2024, Yakima
$92 /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 Yakima, what would flip the result?

Every line shows where Yakima's 7-year verdict switches, with all other figures staying the same.

Renting wins if

  • Home prices rise by less than 6.2% each year (we use Washington's long-run rate of 5.3%).
  • The mortgage rate remains above 5.92%.
  • A home like this has a monthly rent under $1,620 (typical here: $1,330).
  • You move out before year 12.

When buying wins

  • Home prices rise at more than 6.2% a year.
  • You secure a mortgage rate under 5.92% (today's rate is 7.24%).
  • The same home would cost more than $1,620 a month to rent.
  • You remain there 12 years or more.

Yakima compared with the other 812 cities

MeasureYakimaMedian city
Typical home value$358,493$422,451
Typical rent$1,330 /mo$1,837 /mo
Price-to-rent ratio22.5 (#224 of 813)18.5
Home prices, last 10 years7% a year6.2% a year
Property tax0.80%0.87%
Households that rent46%42%

Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.

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