Casper, WY

Rent vs buy in Casper

Median home $260,400. A 1 bedrooms rents for $1,106 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $1,106; per month
Own the median home: $1,690; P&I, tax, insurance, upkeep
Owning costs extra: $584; per month, same metro

What a purchase actually costs

20% down payment$52,080
Mortgage at 6.5%$1,317
Property tax (0.62% of value)$135/mo · $1,614/yr
Insurance and upkeep (1.1%/yr)$239
Total monthly ownership$1,690

Months of leftover to save the down payment

At $2,642 left over a month, it takes about 20 months (1.7 years) to save $52,080 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.