Cincinnati, OH

Rent vs buy in Cincinnati

Median home $240,200. A 1 bedrooms rents for $1,187 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $1,187; per month
Own the median home: $1,677; P&I, tax, insurance, upkeep
Owning costs extra: $490; per month, same metro

What a purchase actually costs

20% down payment$48,040
Mortgage at 6.5%$1,215
Property tax (1.21% of value)$242/mo · $2,906/yr
Insurance and upkeep (1.1%/yr)$220
Total monthly ownership$1,677

Months of leftover to save the down payment

At $2,706 left over a month, it takes about 18 months (1.5 years) to save $48,040 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.