Macon, GA

Rent vs buy in Macon

Median home $172,300. A 1 bedrooms rents for $1,021 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $1,021; per month
Own the median home: $1,167; P&I, tax, insurance, upkeep
Owning costs extra: $146; per month, same metro

What a purchase actually costs

20% down payment$34,460
Mortgage at 6.5%$871
Property tax (0.96% of value)$138/mo · $1,654/yr
Insurance and upkeep (1.1%/yr)$158
Total monthly ownership$1,167

Months of leftover to save the down payment

At $2,087 left over a month, it takes about 17 months (1.4 years) to save $34,460 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.