Research / Rent vs. buy / Missouri / St. Louis

Rent or buy in St. Louis?
Renting is $110 a month cheaper.

Renting the typical home in St. Louis costs $110 less a month than owning it. Counting equity, price growth and what a renter could earn by investing the difference, buying comes out ahead in year 4.

Updated September 26, 2026 · Zillow data for August 2026 · 7.03% mortgage rate (Freddie Mac, September 24, 2026) · Rank 16 of 340 (1 = owning closest to renting) · Part of our 2026 rent vs. buy study

Monthly cost to own$1,444typical home, 20% down
Typical monthly rent$1,334Zillow, August 2026
Buying breaks evenYear 43.5% price growth
Cash needed to buy$42,924$186,625 home · 20% down + 3% closing
Income needed to own$57,773vs. $53,360 to rent · 30% rule

Where the monthly money goes.

The first-month cost of owning the typical St. Louis home, split into its parts, against the typical rent. About $122 of the first mortgage payment is principal, which you keep as equity.

The median household income in St. Louis is $56,160 (Census ACS 2020–2024). Owning the typical home would take 31% of it; renting would take 29%.

As a check with a larger rental, HUD's FY2027 Fair Market Rent for a three-bedroom home in the St. Louis, MO-IL HUD Metro FMR Area area is $1,731 a month, $287 above the cost of owning.

  • Mortgage principal & interest $996
  • Property tax $160
  • Home insurance $132
  • Maintenance $156

How long you would need to stay.

Net worth of a buyer compared with a renter who invests the down payment, closing costs and any monthly savings at 6% a year. Home values and rents grow 3.5% a year; selling costs 6%.

Change the assumptions

Buying vs. renting in St. Louis, by years in the home
StayResult
3 yearsRenting ahead by $4,412
5 yearsBuying ahead by $6,490
7 yearsBuying ahead by $19,915
10 yearsBuying ahead by $45,680
15 yearsBuying ahead by $107,824
20 yearsBuying ahead by $202,740
30 yearsBuying ahead by $550,599

Rent or buy elsewhere in Missouri.

Other large Missouri cities in the study.

All cities
KansasRenting $502/mo cheaperSpringfieldRenting $603/mo cheaperColumbiaRenting $934/mo cheaperIndependenceRenting $256/mo cheaperLee's SummitRenting $1,277/mo cheaper

More on St. Louis

See the full St. Louis rental market profile with Census medians, or check how a typical rental performs for an investor in our cash-flow ranking.

How we calculated this

Price is the Zillow Home Value Index and rent the Zillow Observed Rent Index for St. Louis. The cost of owning includes principal and interest at 7.03% with 20% down, property tax at the city's 1.03% effective rate (Census ACS), the Missouri average homeowners premium (NAIC 2023) and 1% yearly maintenance. It leaves out income-tax effects, HOA dues and utilities. The typical rental may be smaller than the typical home for sale. Full methodology. This is a citywide estimate, not advice about a specific home.