Hinesville, GA

Rent vs buy in Hinesville

Median home $183,500. A 1 bedrooms rents for $1,339 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $1,339; per month
Own the median home: $1,255; P&I, tax, insurance, upkeep
Owning is cheaper: $84; per month, same metro

What a purchase actually costs

20% down payment$36,700
Mortgage at 6.5%$928
Property tax (1.04% of value)$159/mo · $1,908/yr
Insurance and upkeep (1.1%/yr)$168
Total monthly ownership$1,255

Months of leftover to save the down payment

At $1,676 left over a month, it takes about 22 months (1.8 years) to save $36,700 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.