Ocala, FL

Rent vs buy in Ocala

Median home $220,800. A 1 bedrooms rents for $1,230 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $1,230; per month
Own the median home: $1,457; P&I, tax, insurance, upkeep
Owning costs extra: $227; per month, same metro

What a purchase actually costs

20% down payment$44,160
Mortgage at 6.5%$1,116
Property tax (0.75% of value)$138/mo · $1,656/yr
Insurance and upkeep (1.1%/yr)$202
Total monthly ownership$1,457

Months of leftover to save the down payment

At $2,045 left over a month, it takes about 22 months (1.8 years) to save $44,160 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.