Chambersburg, PA

Rent vs buy in Chambersburg

Median home $236,300. A 1 bedrooms rents for $911 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $911; per month
Own the median home: $1,630; P&I, tax, insurance, upkeep
Owning costs extra: $719; per month, same metro

What a purchase actually costs

20% down payment$47,260
Mortgage at 6.5%$1,195
Property tax (1.11% of value)$219/mo · $2,623/yr
Insurance and upkeep (1.1%/yr)$217
Total monthly ownership$1,630

Months of leftover to save the down payment

At $2,815 left over a month, it takes about 17 months (1.4 years) to save $47,260 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.