Medford, OR

Rent vs buy in Medford

Median home $400,200. A 1 bedrooms rents for $1,267 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $1,267; per month
Own the median home: $2,644; P&I, tax, insurance, upkeep
Owning costs extra: $1,377; per month, same metro

What a purchase actually costs

20% down payment$80,040
Mortgage at 6.5%$2,024
Property tax (0.76% of value)$253/mo · $3,042/yr
Insurance and upkeep (1.1%/yr)$367
Total monthly ownership$2,644

Months of leftover to save the down payment

At $1,595 left over a month, it takes about 51 months (4.3 years) to save $80,040 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.