Killeen, TX

Rent vs buy in Killeen

Median home $215,000. A 1 bedrooms rents for $928 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $928; per month
Own the median home: $1,551; P&I, tax, insurance, upkeep
Owning costs extra: $623; per month, same metro

What a purchase actually costs

20% down payment$43,000
Mortgage at 6.5%$1,087
Property tax (1.49% of value)$267/mo · $3,204/yr
Insurance and upkeep (1.1%/yr)$197
Total monthly ownership$1,551

Months of leftover to save the down payment

At $2,589 left over a month, it takes about 17 months (1.4 years) to save $43,000 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.