Idaho Falls, ID

Rent vs buy in Idaho Falls

Median home $325,000. A 1 bedrooms rents for $993 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $993; per month
Own the median home: $2,090; P&I, tax, insurance, upkeep
Owning costs extra: $1,097; per month, same metro

What a purchase actually costs

20% down payment$65,000
Mortgage at 6.5%$1,643
Property tax (0.55% of value)$149/mo · $1,788/yr
Insurance and upkeep (1.1%/yr)$298
Total monthly ownership$2,090

Months of leftover to save the down payment

At $2,051 left over a month, it takes about 32 months (2.7 years) to save $65,000 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.