Research / Rent vs. buy / Texas / Killeen

Rent or buy in Killeen?
Renting is $604 a month cheaper.

Renting the typical home in Killeen costs $604 less a month than owning it. Even counting equity and price growth, buying does not come out ahead of renting and investing the difference within 30 years under our baseline assumptions.

Updated November 12, 2026 · Zillow data for September 2026 · 7.11% mortgage rate (Freddie Mac, November 12, 2026) · Rank 119 of 339 (1 = owning closest to renting) · Part of our 2026 rent vs. buy study

Monthly cost to own$1,863typical home, 20% down
Typical monthly rent$1,259Zillow, September 2026
Buying breaks even30+ years3.5% price growth
Cash needed to buy$49,940$217,130 home · 20% down + 3% closing
Income needed to own$74,529vs. $50,360 to rent · 30% rule

Where the monthly money goes.

The first-month cost of owning the typical Killeen home, split into its parts, against the typical rent. About $139 of the first mortgage payment is principal, which you keep as equity.

The median household income in Killeen is $60,977 (Census ACS 2020–2024). Owning the typical home would take 37% of it; renting would take 25%.

As a check with a larger rental, HUD's FY2027 Fair Market Rent for a three-bedroom home in the Killeen-Temple, TX HUD Metro FMR Area area is $1,576 a month, still $287 below the cost of owning.

  • Mortgage principal & interest $1,169
  • Property tax $275
  • Home insurance $239
  • Maintenance $181

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 Killeen, by years in the home
StayResult
3 yearsRenting ahead by $24,570
5 yearsRenting ahead by $27,968
7 yearsRenting ahead by $31,368
10 yearsRenting ahead by $36,378
15 yearsRenting ahead by $44,022
20 yearsRenting ahead by $49,666
30 yearsRenting ahead by $46,043

Rent or buy elsewhere in Texas.

Other large Texas cities in the study.

All cities
HoustonRenting $634/mo cheaperSan AntonioRenting $734/mo cheaperDallasRenting $921/mo cheaperAustinRenting $2,318/mo cheaperFort WorthRenting $866/mo cheaperEl PasoRenting $611/mo cheaperArlingtonRenting $1,071/mo cheaperCorpus ChristiRenting $495/mo cheaper

More on Killeen

See the full Killeen 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 Killeen. The cost of owning includes principal and interest at 7.11% with 20% down, property tax at the city's 1.52% effective rate (Census ACS), the Texas 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.