Naples, FL

Rent vs buy in Naples

Median home $486,800. A 1 bedrooms rents for $1,857 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $1,857; per month
Own the median home: $3,175; P&I, tax, insurance, upkeep
Owning costs extra: $1,318; per month, same metro

What a purchase actually costs

20% down payment$97,360
Mortgage at 6.5%$2,462
Property tax (0.66% of value)$268/mo · $3,213/yr
Insurance and upkeep (1.1%/yr)$446
Total monthly ownership$3,175

Months of leftover to save the down payment

At $1,961 left over a month, it takes about 50 months (4.2 years) to save $97,360 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.