Buy vs Rent in Topeka, KS (2026)
Median home price $180K · 1BR rent $940/mo · Price-to-rent ratio 16.0x.
Median home price
$180K
1BR rent
$940/mo
Price-to-rent ratio
16.0x
Verdict
Neutral
Monthly cost of buying — 3 scenarios
30-year mortgage at 7% · Includes property tax, insurance, and maintenance estimates
| 3.5% down (FHA) | 10% down | 20% down (conventional) | |
|---|---|---|---|
| Down payment | $6,300 | $18,000 | $36,000 |
| Mortgage (P&I) | $1,156/mo | $1,078/mo | $958/mo |
| Property tax (est.) | $165/mo | $165/mo | $165/mo |
| Insurance (est.) | $75/mo | $75/mo | $75/mo |
| Maintenance (est.) | $150/mo | $150/mo | $150/mo |
| Total monthly cost | $1,546vs rent: +$606/mo | $1,468vs rent: +$528/mo | $1,348vs rent: +$408/mo |
| Income to qualify | $49,543/yr | $46,200/yr | $41,057/yr |
| Break-even (approx.) | ~1 yrs | ~3 yrs | ~7 yrs |
Topeka housing context
$48K
Median HH income
per year
$41,057
Income needed (20% down)
per year
Qualified
Affordability gap
vs median income
Frequently asked questions
Is it better to buy or rent in Topeka?
Topeka's price-to-rent ratio of 16.0x is in the neutral zone (15-20x). Whether to buy or rent depends on how long you plan to stay, your down payment, and your personal finances.
How much do I need to earn to buy a home in Topeka?
With a median home price of $180K in Topeka, you'd need an annual income of roughly $41,057 to qualify with 20% down (at 7% rate, 28% housing ratio). With 10% down, you'd need about $46,200/year.
Topeka full cost of living breakdownCheaper cities near TopekaHow much to retire in TopekaCompare mortgage rates
Mortgage at 7% 30-yr fixed · Property tax 1.1% est. · Maintenance 1% est. · Zillow, BLS · Q1 2026 · For general guidance only