New York vs Phoenix
Side-by-side rent vs buy analysis comparing these two markets
Overall Comparison
Both cities are evenly matched
Both cities offer similar value for rent vs buy decisions.
Median Home Price
$760,000
Median Rent
$3,450/mo
Price-to-Rent Ratio
18.4
Property Tax Rate
1.72%
Price Change (1Y)TIE
+3.3%
Price Change (5Y)BETTER
+21.0%
Break-Even Years
8 years
10-Year Wealth DifferenceBETTER
+$20,000
Median Home PriceBETTER
$510,000
Median RentBETTER
$2,500/mo
Price-to-Rent RatioBETTER
17.0
Property Tax RateBETTER
0.62%
Price Change (1Y)TIE
+3.3%
Price Change (5Y)
+16.0%
Break-Even YearsBETTER
6 years
10-Year Wealth Difference
$15,000
Key Differences
Home Prices
New York's median home price of $760,000 is higher than Phoenix's $510,000 by 49%.
Monthly Rent
Renting in New York costs $3,450/mo compared to $2,500/mo in Phoenix—a difference of $950/mo.
Buy vs Rent Verdict
Both cities currently favor either option.
Break-Even Timeline
Buying breaks even in 8 years in New York vs 6 years in Phoenix.
Run Your Own Numbers
This comparison uses median values. Your income, savings, and goals matter. Use our Buy vs Rent calculator to get a personalized analysis.