Rent vs Buy in Austin, TX

Should you rent or buy a home in Austin? Use our calculator with local market data to make an informed decision.

Median Home Price
$525,000
Median Rent
$1,850/mo
Property Tax Rate
1.93%
Price-to-Rent Ratio
23.6x

Rent vs Buy in Austin, Texas

Should you rent or buy a home? Calculate your best option.

Your Scenario

$
$
%
%
7 years
1 years30 years

Explore Scenarios

Adjust these sliders to see how different assumptions affect your decision.

Mortgage Rate7.00%
5%7%9%
Home Appreciation3.0%
0%3%5%
Rent Growth3.0%
0%3%6%
Time Horizon7 years
35710

💡 Tips

  • • Higher mortgage rates favor renting
  • • Higher home appreciation favors buying
  • • Higher rent growth favors buying
  • • Longer time horizons typically favor buying
🔑Renting is Better

You could save $93,613 by renting

Over 7 years

Monthly Cost (Rent)
$2,025
Average
Monthly Cost (Own)
$4,370
Average (excl. equity)
Total Rent Paid
$170,107
Total Owner Costs
$487,843
Final Equity
$224,124
After selling costs
Break-Even Year
Never
Beyond horizon

Upfront Costs to Buy

Down Payment (20%)$105,000
Closing Costs (3%)$15,750
Total Needed$120,750

Cost Comparison Over Time

$487,843$390,275$292,706$195,137$97,569$00y1y2y3y4y5y6y7y
Total Rent Paid
Total Owner Costs
Net Cost (After Equity)
Share your scenario:
🏠

Rent or Buy Today

Enable ads in preferences for personalized content

Explore Time Horizons

3
Year Horizon
5
Year Horizon
7
Year Horizon
10
Year Horizon

About Buying vs Renting in Austin

The decision to rent or buy in Austin, Texas depends on many factors including your financial situation, how long you plan to stay, and current market conditions.

With a median home price of $525,000 and median rent of $1,850 per month, Austin has a price-to-rent ratio of 23.6. This relatively high ratio suggests renting may be more economical in the short term.

Use our calculator above to input your specific scenario and see a personalized analysis. Adjust the time horizon, mortgage rate, and other factors to explore different outcomes.