Eugene, OR

Rent vs buy in Eugene

Median home $395,800. A 1 bedrooms rents for $1,402 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $1,402; per month
Own the median home: $2,648; P&I, tax, insurance, upkeep
Owning costs extra: $1,246; per month, same metro

What a purchase actually costs

20% down payment$79,160
Mortgage at 6.5%$2,001
Property tax (0.86% of value)$284/mo · $3,404/yr
Insurance and upkeep (1.1%/yr)$363
Total monthly ownership$2,648

Months of leftover to save the down payment

At $1,269 left over a month, it takes about 63 months (5.3 years) to save $79,160 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.