Bridgeport, CT

Rent vs buy in Bridgeport

Median home $530,800. A 1 bedrooms rents for $2,315 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $2,315; per month
Own the median home: $3,914; P&I, tax, insurance, upkeep
Owning costs extra: $1,599; per month, same metro

What a purchase actually costs

20% down payment$106,160
Mortgage at 6.5%$2,684
Property tax (1.68% of value)$743/mo · $8,917/yr
Insurance and upkeep (1.1%/yr)$487
Total monthly ownership$3,914

Months of leftover to save the down payment

At $2,068 left over a month, it takes about 52 months (4.3 years) to save $106,160 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.