College Station, TX

Rent vs buy in College Station

Median home $261,900. A 1 bedrooms rents for $999 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $999; per month
Own the median home: $1,892; P&I, tax, insurance, upkeep
Owning costs extra: $893; per month, same metro

What a purchase actually costs

20% down payment$52,380
Mortgage at 6.5%$1,324
Property tax (1.50% of value)$327/mo · $3,929/yr
Insurance and upkeep (1.1%/yr)$240
Total monthly ownership$1,892

Months of leftover to save the down payment

At $2,250 left over a month, it takes about 24 months (2.0 years) to save $52,380 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.