Logan, UT

Rent vs buy in Logan

Median home $386,700. A 1 bedrooms rents for $1,056 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $1,056; per month
Own the median home: $2,468; P&I, tax, insurance, upkeep
Owning costs extra: $1,412; per month, same metro

What a purchase actually costs

20% down payment$77,340
Mortgage at 6.5%$1,955
Property tax (0.49% of value)$158/mo · $1,895/yr
Insurance and upkeep (1.1%/yr)$354
Total monthly ownership$2,468

Months of leftover to save the down payment

At $1,833 left over a month, it takes about 43 months (3.6 years) to save $77,340 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.