Jacksonville, NC

Rent vs buy in Jacksonville

Median home $219,500. A 1 bedrooms rents for $1,130 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $1,130; per month
Own the median home: $1,430; P&I, tax, insurance, upkeep
Owning costs extra: $300; per month, same metro

What a purchase actually costs

20% down payment$43,900
Mortgage at 6.5%$1,110
Property tax (0.65% of value)$119/mo · $1,427/yr
Insurance and upkeep (1.1%/yr)$201
Total monthly ownership$1,430

Months of leftover to save the down payment

At $1,837 left over a month, it takes about 24 months (2.0 years) to save $43,900 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.