Renting and buying are compared every day, usually by feel. This article puts the two monthly numbers side by side for ZIP 92154, using Zillow’s rent and value indexes and each period’s average mortgage rate.
Rent and the cost of owning, year by year
| Year | Typical rent | Average rate | Typical value | Cost of owning a month | Owning minus renting |
|---|---|---|---|---|---|
| 2019 | $1,997 | 3.62% | $485,358 | $2,335 | +$338 |
| 2020 | $2,102 | 2.94% | $515,686 | $2,327 | +$224 |
| 2021 | $2,342 | 2.84% | $623,675 | $2,789 | +$447 |
| 2022 | $2,752 | 5.22% | $709,620 | $3,953 | +$1,201 |
| 2023 | $2,872 | 7.07% | $715,518 | $4,671 | +$1,799 |
| 2024 | $2,850 | 6.50% | $775,463 | $4,826 | +$1,976 |
| 2025 | $2,918 | 6.59% | $741,750 | $4,650 | +$1,732 |
| Now | $2,978 | 7.28% | $750,299 | $4,982 | +$2,005 |
Today the typical rent is $2,978 a month, against an estimated $4,982 to own the typical home ($750,299) at 7.28%, including about $875 for tax and insurance. That leaves owning about $2,005 above renting in monthly cash terms, before counting the equity an owner builds and the upkeep an owner pays.
What the comparison leaves out
- Equity: part of each payment reduces the loan balance, which a renter does not build.
- Upkeep, HOA dues and repairs, which owners pay and renters usually do not.
- Moving costs and how long you plan to stay, which matter a great deal.
Keep learning
For a fuller comparison with your own numbers, try the calculators; for local rents and values see the Otay Mesa market reports.
Talk to a lender. Rates, loan programs and approvals come from lenders, not from websites or real estate agents. Talk to your own mortgage broker, or use our preferred lender, Point Mortgage Corporation (NMLS #231073), at (619) 475-4095. You are always free to choose any lender you like, and you can verify any lender’s license at nmlsconsumeraccess.org.
Where these numbers come from
Rates are the weekly averages from the Freddie Mac Primary Mortgage Market Survey; home values and rents are from Zillow Research. Payments are principal and interest computed with the standard amortization formula unless a table says otherwise. Data as of Oct 1, 2026. This is general information, not a rate quote, and it makes no predictions.
More on interest rates
- The Fed's Rate Decisions vs. Mortgage Rates: What Is the Difference? — The Federal Reserve sets one short-term rate. Mortgage rates follow a different set of forces. Here is how the two relate, with the recent decisions.
- Fixed Rate, Adjustable Rate and Buydowns: The Basics — How the main loan structures work, and what a temporary or permanent rate buydown means.
General information, not financial advice.
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- Mortgage Payment Calculator — See your real monthly payment: principal, interest, taxes, insurance and HOA in one number.
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