Rent vs Buy in St. Louis, MO
St. Louis is one of the more reachable big-metro markets, with a median listing price of $289,900. Lower prices pull the rent-vs-buy break-even closer, but the local property tax and rent levels decide how close.
Rent runs about $1,150 a month, putting St. Louis near the middle of the price-to-rent range. That leaves the rent-vs-buy call resting on your inputs rather than the market.
How St. Louis compares
- Homes in St. Louis cost 35% less than the national median of $443,255.
- Rent in St. Louis runs 48% lower than the U.S. median of $2,200/mo.
- Homes in St. Louis track the Missouri median of $300,000 closely.
What the numbers say
At 1.20% on a $289,900 median home, property tax in St. Louis works out to roughly $290 a month ($3,479 a year). It is the largest owning cost with no renting equivalent, so factor it in before you compare.
On the renting side, the figure to beat is $1,150 a month, or $13,800 a year. Appreciation near 8.0% a year is close to the long-run norm, so the calculator's conservative 3 to 3.5% anchor is not far from recent local experience.
Insurance here defaults to the Missouri statewide average of $1,900 a year, a placeholder to replace with a real quote.
Where the St. Louis rent-vs-buy math stands out
St. Louis's price-to-rent ratio is about 21.0: the $289,900 median price divided by $1,150 a month in rent over a year. That is a middling ratio, so the rent-vs-buy call comes down to your down payment, the rate you lock, and how long you stay. That ratio is a useful shortcut, not the whole answer. It points to which side leads at the start, then the full calculation fills in the rest.
With a mid-range ratio, renting and buying in St. Louis start on roughly even footing. Where the break-even lands depends on your down payment, rate, and how fast rents rise, which the calculator below pins down.
A few St. Louis specifics sharpen that read. The City of St. Louis levies a 1% earnings tax on residents and on people and businesses working in the city. Source. The metro had 2,814,421 residents in 2025, only about 3,027 more than in 2024. Source.
Home Purchase
Enter details about the home you're considering buying
Renting
Enter details about your rental alternative
Time Horizon & Market
Detailed mode adds 17 more inputs including advanced assumptions.
Buying is cheaper over 7 years
by $31,485
Buying comes out ahead, though the margin is meaningful only if you stay the full term and your assumptions hold roughly true.
The result is robust across small changes to your inputs.
Total cost of buying
$387,138
Average $4,609 per month over 7 years
Total cost of renting
$207,949
Average $2,476 per month over 7 years
Equity Built
$245,691
What you've paid down on the loan principal over 7 years.
Net Sale Proceeds
$211,339
What you'd walk away with after selling, minus closing costs.
Investment Growth
$65,204
What the down payment could grow to if invested instead of used to buy.
This chart shows total dollars spent on each path, month by month. With your inputs and time horizon, renting stays ahead the entire time.
Frequently Asked Questions
By Barron Hansen, Founder · Last reviewed