Homosassa Springs, FL

Rent vs buy in Homosassa Springs

Median home $223,200. A 1 bedrooms rents for $1,100 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $1,100; per month
Own the median home: $1,443; P&I, tax, insurance, upkeep
Owning costs extra: $343; per month, same metro

What a purchase actually costs

20% down payment$44,640
Mortgage at 6.5%$1,129
Property tax (0.59% of value)$110/mo · $1,317/yr
Insurance and upkeep (1.1%/yr)$205
Total monthly ownership$1,443

Months of leftover to save the down payment

At $2,124 left over a month, it takes about 22 months (1.8 years) to save $44,640 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.