Buy vs rent by metro area

Typical single-family home values, typical rents, and the price-to-rent ratio for each metro area we track, from Zillow's Home Value Index and Observed Rent Index. The ratio is the home value divided by a year of rent. As a general guide, below 15 leans toward buying, above 20 leans toward renting, and the range between the two is decided by how long you stay, your mortgage rate, and what you would earn investing the down payment instead.

Pick a metro to see its figures in full, then run the comparison with your own numbers.

Metro areas we track

Buy vs rent in Austin, TX: typical home $421,084, rent $2,285/mo, price-to-rent 15.4
Buy vs rent in Chicago, IL: typical home $375,345, rent $2,536/mo, price-to-rent 12.3
Buy vs rent in Dallas, TX: typical home $360,905, rent $2,345/mo, price-to-rent 12.8
Buy vs rent in Denver, CO: typical home $580,862, rent $2,930/mo, price-to-rent 16.5
Buy vs rent in Las Vegas, NV: typical home $442,546, rent $2,246/mo, price-to-rent 16.4
Buy vs rent in Los Angeles, CA: typical home $1,011,637, rent $4,420/mo, price-to-rent 19.1
Buy vs rent in Miami, FL: typical home $569,393, rent $3,433/mo, price-to-rent 13.8
Buy vs rent in Nashville, TN: typical home $456,504, rent $2,362/mo, price-to-rent 16.1
Buy vs rent in New York, NY: typical home $754,974, rent $3,464/mo, price-to-rent 18.2
Buy vs rent in Phoenix, AZ: typical home $451,327, rent $2,302/mo, price-to-rent 16.3
Buy vs rent in Salt Lake City, UT: typical home $577,928, rent $2,507/mo, price-to-rent 19.2
Buy vs rent in Seattle, WA: typical home $752,812, rent $3,435/mo, price-to-rent 18.3

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