Rent or Buy in California?

Rent vs Buy in California: What You Need to Know

Deciding whether to rent or buy a home in California is one of the biggest financial decisions you'll make. The answer isn't the same for everyone—it depends on your specific situation, the city you're considering, and current market conditions.

Market Overview

Across California, the average home price is around $823,056, while average monthly rent sits at $2,379. However, these numbers vary significantly by city. Some markets strongly favor renting, while others make buying the clear winner.

Key Factors to Consider

• How long you plan to stay: Buying typically makes more sense if you'll stay 5+ years
• Local market conditions: Price-to-rent ratios vary widely across California
• Hidden costs: Property taxes, maintenance, and HOA fees add up quickly
• Opportunity cost: Money in a down payment can't be invested elsewhere
• Lifestyle flexibility: Renting offers more mobility and less responsibility

How to Use This Calculator

Select your city above to get a personalized rent vs buy analysis. Our calculator uses real market data from California and considers 59+ financial factors including:

• Current home prices and rental rates in your specific city
• Property taxes and insurance costs
• Mortgage rates and down payment scenarios
• Expected appreciation and inflation
• Maintenance, HOA, and closing costs
• Investment opportunity costs

The calculator will show you the true total cost of each option over your time horizon, helping you make an informed decision based on real numbers, not emotions.