Bremerton, WA

Rent vs buy in Bremerton

Median home $505,700. A 1 bedrooms rents for $1,612 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $1,612; per month
Own the median home: $3,358; P&I, tax, insurance, upkeep
Owning costs extra: $1,746; per month, same metro

What a purchase actually costs

20% down payment$101,140
Mortgage at 6.5%$2,557
Property tax (0.80% of value)$337/mo · $4,046/yr
Insurance and upkeep (1.1%/yr)$464
Total monthly ownership$3,358

Months of leftover to save the down payment

At $2,849 left over a month, it takes about 36 months (3.0 years) to save $101,140 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.