Dayton, OH

Rent vs buy in Dayton

Median home $186,200. A 1 bedrooms rents for $1,028 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $1,028; per month
Own the median home: $1,360; P&I, tax, insurance, upkeep
Owning costs extra: $332; per month, same metro

What a purchase actually costs

20% down payment$37,240
Mortgage at 6.5%$942
Property tax (1.60% of value)$248/mo · $2,979/yr
Insurance and upkeep (1.1%/yr)$171
Total monthly ownership$1,360

Months of leftover to save the down payment

At $2,555 left over a month, it takes about 15 months (1.3 years) to save $37,240 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.