Clarksville, TN

Rent vs buy in Clarksville

Median home $229,400. A 1 bedrooms rents for $1,005 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $1,005; per month
Own the median home: $1,493; P&I, tax, insurance, upkeep
Owning costs extra: $488; per month, same metro

What a purchase actually costs

20% down payment$45,880
Mortgage at 6.5%$1,160
Property tax (0.64% of value)$122/mo · $1,468/yr
Insurance and upkeep (1.1%/yr)$210
Total monthly ownership$1,493

Months of leftover to save the down payment

At $2,700 left over a month, it takes about 17 months (1.4 years) to save $45,880 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.