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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 6.50% 30-year fixed rate (as of 2026-09-10), assuming 20% down.

Most buy-friendly
Philadelphia, PA
10.9× price-to-rent
Most rent-friendly
Irvine, CA
36.5× price-to-rent
Rate used
6.50%
30-yr fixed · as of 2026-09-10
#CityMedian home valueMedian rentPrice-to-rentEst. payment*Lean
1Philadelphia, PA$234,630$1,797/mo10.9×$1,186/moFavors buying
2Chicago, IL$337,993$2,395/mo11.8×$1,709/moFavors buying
3El Paso, TX$237,796$1,529/mo13.0×$1,202/moFavors buying
4Katy, TX$337,000$1,999/mo14.0×$1,704/moFavors buying
5Houston, TX$263,563$1,561/mo14.1×$1,333/moFavors buying
6Columbus, OH$248,686$1,446/mo14.3×$1,257/moFavors buying
7Buffalo, NY$249,040$1,423/mo14.6×$1,259/moFavors buying
8Jacksonville, FL$286,646$1,610/mo14.8×$1,449/moFavors buying
9San Antonio, TX$249,689$1,390/mo15.0×$1,263/moBalanced
10Fort Worth, TX$298,353$1,625/mo15.3×$1,509/moBalanced
11Fort Lauderdale, FL$513,820$2,778/mo15.4×$2,598/moBalanced
12Tampa, FL$380,300$1,992/mo15.9×$1,923/moBalanced
13Dallas, TX$309,590$1,605/mo16.1×$1,565/moBalanced
14Miami, FL$583,609$3,008/mo16.2×$2,951/moBalanced
15Orlando, FL$374,196$1,903/mo16.4×$1,892/moBalanced
16Fresno, CA$390,993$1,967/mo16.6×$1,977/moBalanced
17New York City, NY$832,934$4,170/mo16.6×$4,212/moBalanced
18Atlanta, GA$387,226$1,936/mo16.7×$1,958/moBalanced
19Arlington, TX$312,255$1,525/mo17.1×$1,579/moBalanced
20Sugar Land, TX$449,277$2,068/mo18.1×$2,272/moBalanced
21Charlotte, NC$397,231$1,752/mo18.9×$2,009/moBalanced
22Tucson, AZ$323,949$1,421/mo19.0×$1,638/moBalanced
23Boston, MA$787,763$3,414/mo19.2×$3,983/moBalanced
24Sacramento, CA$480,488$2,064/mo19.4×$2,430/moBalanced
25Round Rock, TX$405,249$1,734/mo19.5×$2,049/moBalanced
26Nashville, TN$434,068$1,834/mo19.7×$2,195/moBalanced
27Las Vegas, NV$424,778$1,720/mo20.6×$2,148/moFavors renting
28Colorado Springs, CO$448,511$1,749/mo21.4×$2,268/moFavors renting
29Phoenix, AZ$408,770$1,567/mo21.7×$2,067/moFavors renting
30Aurora, CO$458,582$1,752/mo21.8×$2,319/moFavors renting
31McKinney, TX$480,265$1,806/mo22.2×$2,428/moFavors renting
32Oakland, CA$717,798$2,691/mo22.2×$3,630/moFavors renting
33Raleigh, NC$435,237$1,575/mo23.0×$2,201/moFavors renting
34Mesa, AZ$433,754$1,540/mo23.5×$2,193/moFavors renting
35Denver, CO$533,060$1,884/mo23.6×$2,695/moFavors renting
36Plano, TX$499,723$1,722/mo24.2×$2,527/moFavors renting
37San Francisco, CA$1,416,278$4,539/mo26.0×$7,161/moFavors renting
38Austin, TX$504,148$1,610/mo26.1×$2,549/moFavors renting
39San Diego, CA$994,682$3,054/mo27.1×$5,030/moFavors renting
40Los Angeles, CA$946,268$2,773/mo28.4×$4,785/moFavors renting
41Frisco, TX$649,173$1,852/mo29.2×$3,283/moFavors renting
42Seattle, WA$851,471$2,238/mo31.7×$4,306/moFavors renting
43San Jose, CA$1,391,204$3,527/mo32.9×$7,035/moFavors renting
44Scottsdale, AZ$854,394$2,145/mo33.2×$4,320/moFavors renting
45Irvine, CA$1,517,431$3,465/mo36.5×$7,673/moFavors 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.

Key Takeaways

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 36.5×.
  • 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 6.50% average 30-year fixed rate (as of 2026-09-10); a higher rate raises every monthly payment and tilts more markets toward renting.
Freshness
Stale

Last updated:

Live data may be outdated. Re-check current rates before locking.

Citations

Primary sources behind this page

  1. Zillow Research (ZHVI + ZORI)Accessed for source verification
  2. Ralo Rate IndexAccessed for source verification
  3. Freddie Mac PMMSAccessed for source verification
Reviewed By
Arjun Lalwani headshot

Arjun Lalwani

Co-Founder & CEO

NMLS #2753950

Former 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.