Research / Rent vs. buy / Washington / Renton

Rent or buy in Renton?
Renting is $2,923 a month cheaper.

Renting the typical home in Renton costs $2,923 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 September 26, 2026 · Zillow data for August 2026 · 7.03% mortgage rate (Freddie Mac, September 24, 2026) · Rank 308 of 340 (1 = owning closest to renting) · Part of our 2026 rent vs. buy study

Monthly cost to own$5,159typical home, 20% down
Typical monthly rent$2,236Zillow, August 2026
Buying breaks even30+ years3.5% price growth
Cash needed to buy$168,281$731,654 home · 20% down + 3% closing
Income needed to own$206,378vs. $89,440 to rent · 30% rule

Where the monthly money goes.

The first-month cost of owning the typical Renton home, split into its parts, against the typical rent. About $477 of the first mortgage payment is principal, which you keep as equity.

The median household income in Renton is $100,432 (Census ACS 2020–2024). Owning the typical home would take 62% of it; renting would take 27%.

As a check with a larger rental, HUD's FY2027 Fair Market Rent for a three-bedroom home in the Seattle-Bellevue, WA HUD Metro FMR Area area is $3,324 a month, still $1,835 below the cost of owning.

  • Mortgage principal & interest $3,906
  • Property tax $541
  • Home insurance $103
  • Maintenance $610

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 Renton, by years in the home
StayResult
3 yearsRenting ahead by $118,317
5 yearsRenting ahead by $159,339
7 yearsRenting ahead by $205,903
10 yearsRenting ahead by $287,662
15 yearsRenting ahead by $462,554
20 yearsRenting ahead by $699,444
30 yearsRenting ahead by $1,446,158

Rent or buy elsewhere in Washington.

Other large Washington cities in the study.

All cities
SeattleRenting $3,554/mo cheaperSpokaneRenting $1,308/mo cheaperTacomaRenting $1,758/mo cheaperVancouverRenting $1,724/mo cheaperBellevueRenting $6,859/mo cheaperKentRenting $2,546/mo cheaperEverettRenting $2,484/mo cheaperSpokane ValleyRenting $1,391/mo cheaper

More on Renton

See the full Renton 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 Renton. The cost of owning includes principal and interest at 7.03% with 20% down, property tax at the city's 0.89% effective rate (Census ACS), the Washington 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.