Bend, OR

Rent vs buy in Bend

Median home $550,400. A 1 bedrooms rents for $1,569 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $1,569; per month
Own the median home: $3,577; P&I, tax, insurance, upkeep
Owning costs extra: $2,008; per month, same metro

What a purchase actually costs

20% down payment$110,080
Mortgage at 6.5%$2,783
Property tax (0.63% of value)$289/mo · $3,468/yr
Insurance and upkeep (1.1%/yr)$505
Total monthly ownership$3,577

Months of leftover to save the down payment

At $1,682 left over a month, it takes about 66 months (5.5 years) to save $110,080 if every leftover dollar goes to the down payment — which it won't.

Rent is asking rent for a new lease. Home value is the Census ACS median. The mortgage is a 30-year fixed at 6.5% with 20% down — a yardstick, not a quote. Not housing or lending advice.