Rent vs Buy in Topeka, KS
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Rent and buy are roughly balanced in Topeka, KS
Price-to-rent ratio is 16.6 (under 15 favors buying, over 21 favors renting). Renting costs $985/mo; owning runs about $1,461/mo — $476/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $1,037 |
| Property tax | $179 |
| Home insurance | $82 |
| Maintenance | $163 |
| Total to own | $1,461 |
| Average 2BR rent | $985 |
Based on a median home value of $195,818 with a $39,164 down payment. Owning also builds equity over time, which a monthly comparison doesn't capture. Estimates use national averages for taxes, insurance and maintenance — your actual costs will vary.