Rent vs. Buy Index
45 U.S. cities ranked by price-to-rent ratio — median home value divided by a year of median rent. A lower ratio leans toward buying; a higher ratio leans toward renting. Where available, we also show an illustrative monthly principal-and-interest payment computed at today’s 6.00% 30-year fixed rate (as of 2026-07-16), assuming 20% down.
| # | City | Median home value | Median rent | Price-to-rent | Est. payment* | Lean |
|---|---|---|---|---|---|---|
| 1 | Philadelphia, PA | $236,883 | $1,806/mo | 10.9× | $1,136/mo | Favors buying |
| 2 | Chicago, IL | $325,887 | $2,406/mo | 11.3× | $1,563/mo | Favors buying |
| 3 | El Paso, TX | $237,327 | $1,513/mo | 13.1× | $1,138/mo | Favors buying |
| 4 | Houston, TX | $264,952 | $1,566/mo | 14.1× | $1,271/mo | Favors buying |
| 5 | Columbus, OH | $251,236 | $1,456/mo | 14.4× | $1,205/mo | Favors buying |
| 6 | Buffalo, NY | $246,321 | $1,414/mo | 14.5× | $1,181/mo | Favors buying |
| 7 | Katy, TX | $338,369 | $1,885/mo | 15.0× | $1,623/mo | Balanced |
| 8 | Jacksonville, FL | $287,325 | $1,596/mo | 15.0× | $1,378/mo | Balanced |
| 9 | San Antonio, TX | $251,065 | $1,372/mo | 15.2× | $1,204/mo | Balanced |
| 10 | Fort Lauderdale, FL | $511,687 | $2,787/mo | 15.3× | $2,454/mo | Balanced |
| 11 | Fort Worth, TX | $300,445 | $1,628/mo | 15.4× | $1,441/mo | Balanced |
| 12 | Dallas, TX | $312,024 | $1,648/mo | 15.8× | $1,497/mo | Balanced |
| 13 | Tampa, FL | $379,284 | $1,985/mo | 15.9× | $1,819/mo | Balanced |
| 14 | Miami, FL | $581,864 | $2,997/mo | 16.2× | $2,791/mo | Balanced |
| 15 | Orlando, FL | $376,216 | $1,901/mo | 16.5× | $1,804/mo | Balanced |
| 16 | Arlington, TX | $313,207 | $1,560/mo | 16.7× | $1,502/mo | Balanced |
| 17 | New York City, NY | $817,745 | $4,049/mo | 16.8× | $3,922/mo | Balanced |
| 18 | Fresno, CA | $391,319 | $1,930/mo | 16.9× | $1,877/mo | Balanced |
| 19 | Atlanta, GA | $389,027 | $1,888/mo | 17.2× | $1,866/mo | Balanced |
| 20 | Sugar Land, TX | $450,878 | $2,005/mo | 18.7× | $2,163/mo | Balanced |
| 21 | Boston, MA | $786,208 | $3,454/mo | 19.0× | $3,771/mo | Balanced |
| 22 | Charlotte, NC | $400,096 | $1,734/mo | 19.2× | $1,919/mo | Balanced |
| 23 | Tucson, AZ | $326,242 | $1,410/mo | 19.3× | $1,565/mo | Balanced |
| 24 | Sacramento, CA | $481,741 | $2,041/mo | 19.7× | $2,311/mo | Balanced |
| 25 | Nashville, TN | $436,519 | $1,810/mo | 20.1× | $2,094/mo | Favors renting |
| 26 | Round Rock, TX | $408,956 | $1,664/mo | 20.5× | $1,962/mo | Favors renting |
| 27 | Las Vegas, NV | $425,749 | $1,712/mo | 20.7× | $2,042/mo | Favors renting |
| 28 | Phoenix, AZ | $411,563 | $1,577/mo | 21.7× | $1,974/mo | Favors renting |
| 29 | Colorado Springs, CO | $450,850 | $1,723/mo | 21.8× | $2,162/mo | Favors renting |
| 30 | Aurora, CO | $463,088 | $1,746/mo | 22.1× | $2,221/mo | Favors renting |
| 31 | McKinney, TX | $484,670 | $1,780/mo | 22.7× | $2,325/mo | Favors renting |
| 32 | Raleigh, NC | $437,035 | $1,580/mo | 23.1× | $2,096/mo | Favors renting |
| 33 | Oakland, CA | $724,465 | $2,592/mo | 23.3× | $3,475/mo | Favors renting |
| 34 | Mesa, AZ | $436,451 | $1,556/mo | 23.4× | $2,093/mo | Favors renting |
| 35 | Denver, CO | $539,712 | $1,860/mo | 24.2× | $2,589/mo | Favors renting |
| 36 | Plano, TX | $506,472 | $1,684/mo | 25.1× | $2,429/mo | Favors renting |
| 37 | Austin, TX | $510,722 | $1,595/mo | 26.7× | $2,450/mo | Favors renting |
| 38 | San Francisco, CA | $1,393,773 | $4,253/mo | 27.3× | $6,685/mo | Favors renting |
| 39 | San Diego, CA | $1,007,800 | $2,987/mo | 28.1× | $4,834/mo | Favors renting |
| 40 | Los Angeles, CA | $951,035 | $2,755/mo | 28.8× | $4,562/mo | Favors renting |
| 41 | Frisco, TX | $658,055 | $1,815/mo | 30.2× | $3,156/mo | Favors renting |
| 42 | Seattle, WA | $865,273 | $2,196/mo | 32.8× | $4,150/mo | Favors renting |
| 43 | Scottsdale, AZ | $859,406 | $2,167/mo | 33.0× | $4,122/mo | Favors renting |
| 44 | San Jose, CA | $1,438,450 | $3,413/mo | 35.1× | $6,899/mo | Favors renting |
| 45 | Irvine, CA | $1,547,649 | $3,326/mo | 38.8× | $7,423/mo | Favors renting |
*Estimated monthly principal & interest only, at the current average 30-year fixed rate on a loan of 80% of the median home value. Excludes property tax, homeowners insurance, HOA dues, and mortgage insurance. Rates are illustrative examples, not a loan approval, rate lock, or commitment. Actual rates depend on credit score, LTV, occupancy, lock period, and loan amount. Ralo is a licensed mortgage broker, not a lender.
At a Glance
- Philadelphia, PA is the most buy-friendly market in the index at 10.9× price-to-rent.
- Irvine, CA is the most rent-friendly at 38.8×.
- A price-to-rent ratio under 15 generally favors buying; 16–20 is a closer call; above 21 typically favors renting.
- Payments shown use today's 6.00% average 30-year fixed rate (as of 2026-07-16); a higher rate raises every monthly payment and tilts more markets toward renting.
Last updated:
Live data may be outdated. Re-check current rates before locking.
Primary sources behind this page
- Zillow Research (ZHVI + ZORI)Accessed for source verification
- Ralo Rate IndexAccessed for source verification
- Freddie Mac PMMSAccessed for source verification
Arjun Lalwani
NMLS #2753950Former Google product leader with expertise in marketplace systems. Recognized by the U.S. government for extraordinary ability in building and scaling marketplaces. Licensed mortgage professional bringing rigorous product execution to home financing.