North Port, FL

Rent vs buy in North Port

Median home $367,700. A 1 bedrooms rents for $1,574 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $1,574; per month
Own the median home: $2,432; P&I, tax, insurance, upkeep
Owning costs extra: $858; per month, same metro

What a purchase actually costs

20% down payment$73,540
Mortgage at 6.5%$1,859
Property tax (0.77% of value)$236/mo · $2,831/yr
Insurance and upkeep (1.1%/yr)$337
Total monthly ownership$2,432

Months of leftover to save the down payment

At $2,234 left over a month, it takes about 33 months (2.8 years) to save $73,540 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.