Analysis of 500+ US cities using median home prices, average rents, and price-to-rent ratios. Updated 2026-04-11. Free to cite with attribution.
SmartRentOrBuy.com. "2026 Rent vs Buy City Rankings." 2026-04-11. https://smartrentorbuy.com/data-report
| City | PTR | Med. Price |
|---|---|---|
| St. Clair Shores, MI | 71.0 | $230K |
| Lansing, MI | 71.0 | $159K |
| Detroit, MI | 71.0 | $95K |
| Royal Oak, MI | 71.0 | $382K |
| Ann Arbor, MI | 71.0 | $460K |
| City | PTR | Med. Price |
|---|---|---|
| San Francisco, CA | 368.0 | $1500K |
| Escondido, CA | 345.0 | $821K |
| Lancaster, CA | 345.0 | $470K |
| Concord, CA | 345.0 | $722K |
| Menifee, CA | 345.0 | $565K |
The price-to-rent ratio (PTR) is calculated by dividing the median home sale price by the annual average rent (monthly rent × 12). A PTR below 15 generally indicates that buying is financially advantageous over a standard holding period; a PTR above 20 suggests renting is the more cost-effective choice in the near term. Values between 15 and 20 are considered neutral — the decision depends heavily on individual factors including time horizon, down payment size, and local appreciation expectations.
Median home sale prices are sourced from MLS transaction data aggregated at the city level. Average monthly rents reflect median asking rents for all unit types within each city boundary. Data is refreshed quarterly. The PTR metric does not account for mortgage interest deductions, property tax rates, opportunity cost of down payment, or maintenance costs — use the full calculator for a complete financial comparison.
Attribution: This data is free to use and cite with attribution to SmartRentOrBuy.com. For press inquiries or custom data requests, contact [email protected].
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