Home Price-to-Rent Ratio (Zillow)

Home value divided by annual rent across 700+ metros — above 20x suggests renting is more favorable

15.8x53rd percentile
1M: ↓ 0.1x

As of 2026-06-30 · Updated July 21, 2026

Geography:

What it means

  • The price-to-rent ratio divides the typical home value by annual rent in each metro.
  • Below 15x: home prices are low relative to rents. 15–20x: moderate range. Above 20x: home prices are high relative to rents.
  • Uses Zillow Home Value Index (ZHVI) and Zillow Observed Rent Index (ZORI), both dollar-denominated. No index anchoring is needed.
  • Data provided by Zillow Group.
Data Sources