Rent vs Buy Calculator: Which Is Cheaper in 2026?
The 5% rule, price-to-rent ratios across major U.S. metros, and the real break-even math you need to make the right call.
In 2026, the median U.S. home costs $419,000 while median rent sits at roughly $2,100/month. At the current average 30-year fixed rate of 6.51%, the decision to rent or buy depends more on your timeline and local market than on national headlines.
Price-to-Rent Ratio by Market
| Metro Area | Median Home Price | Median Monthly Rent | Price-to-Rent Ratio | Verdict |
|---|---|---|---|---|
| San Francisco, CA | $1,250,000 | $3,200 | 32.5 | Rent favors |
| New York, NY | $685,000 | $3,400 | 16.8 | Depends |
| Los Angeles, CA | $920,000 | $2,950 | 26 | Rent favors |
| Austin, TX | $475,000 | $1,850 | 21.4 | Rent favors |
| Chicago, IL | $310,000 | $1,950 | 13.2 | Buy favors |
| Atlanta, GA | $365,000 | $1,750 | 17.4 | Depends |
| Phoenix, AZ | $425,000 | $1,650 | 21.5 | Rent favors |
| Dallas, TX | $380,000 | $1,600 | 19.8 | Depends |
| Miami, FL | $530,000 | $2,600 | 17 | Depends |
| Detroit, MI | $195,000 | $1,200 | 13.5 | Buy favors |
The Bottom Line for 2026
At 6.51% mortgage rates, buying is no longer the obvious default. The key variables: how long you'll stay, your down payment, local property taxes, and what you do with savings.