Quick answer
At current rates, renting wins over the full 30-year horizon in Eugene. Monthly ownership cost $3,143 (vs $$1,700/mo rent) plus OR's 0.97% property tax make the math tough.
Rent vs Buy · OR
Rent vs Buy in Eugene (2026)
Real math using OR's 0.97% property tax rate, $1,100/year average insurance, and a 6.8% 30-year fixed mortgage. Accounts for opportunity cost — what the down payment would earn invested at 7%.
Last updated: April 23, 2026
Verdict at current rates
Renting wins (30-year horizon)
In Eugene at OR's tax rates and current 6.8% mortgages, keeping the down payment invested at 7% beats homeownership even after 30 years. The standard advice "buy to build equity" doesn't apply here at today's price-to-rent ratio.
Monthly Cost Breakdown
Buying
$3,143/mo
Mortgage P&I
$356,000 loan, 30yr @ 6.8%
$2,321
Property tax
0.97% of assessed (OR avg)
$360
Homeowners insurance
$1,100/yr OR avg
$92
Maintenance
1%/yr of home value
$371
Cash at close: ~$100,125 ($20% down + fees)
Renting
$1,700/mo
2BR rent (median)
Eugene market rate
$1,700
Renters insurance
~$15/mo typical
$15
Down payment invested
$89,000 growing at 7%/yr
(opportunity cost)
Monthly gap: $1,443 cheaper than buying. Renter invests that difference.
Year-by-Year Net Position
"Buy wins by" = what you'd clear selling the home minus what the renter has in investments. Positive = buy ahead.
| Year | Home value | Buyer equity (net) | Renter portfolio (net) | Buy wins by |
|---|---|---|---|---|
| Year 5 | $515,877 | $-130,724 | +$112,616 | $-243,340 |
| Year 10 | $598,043 | $-192,780 | +$161,884 | $-354,663 |
| Year 15 | $693,296 | $-227,713 | +$249,700 | $-477,413 |
| Year 30 | $1,080,132 | $-44,836 | +$972,305 | $-1,017,141 |
Assumptions
Every rent-vs-buy calculator depends on the assumptions. Here are ours — all transparent, none cherry-picked to bias the answer.
This is a rule-of-thumb calculator. Real decisions involve your specific tax bracket, any HOA, mortgage points, closing-cost negotiations, and exact loan terms.
Frequently Asked Questions
Is it better to rent or buy in Eugene?
In Eugene at current mortgage rates (6.8%), renting and investing the down payment beats buying for the full 30-year horizon. Median monthly ownership costs ($3,143) well exceed median 2BR rent ($1,700), and OR's 0.97% property tax makes the math especially tough.
What's the monthly cost of owning a home in Eugene?
On a median $445K home with 20% down at 6.8% fixed rate: mortgage P&I $2,321, property tax $360 (0.97% of assessed value), homeowners insurance $92 (OR average $1,100/year), and maintenance $371 (1% of home value/year). Total: $3,143/month.
How much down payment do I need to buy in Eugene?
20% down on a median Eugene home ($445K) is $89,000. Plus closing costs of roughly 2.5% ($11,125). Total cash-to-close: about $100,125. FHA loans allow 3.5% down ($15,575) but require mortgage insurance that adds ~$173/month.
What's the 10-year cost of renting vs buying in Eugene?
Over 10 years in Eugene: renters pay $233,863 in cumulative rent but have $395,747 invested (assuming 7% return on the $89,000 down payment + monthly savings). Buyers have paid $450,900 in total ownership costs and hold $294,003 in home equity. Net: renting is ahead by $354,663 at year 10.