Ogden, UT

Rent vs buy in Ogden

Median home $437,700. A 1 bedrooms rents for $1,201 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $1,201; per month
Own the median home: $2,822; P&I, tax, insurance, upkeep
Owning costs extra: $1,621; per month, same metro

What a purchase actually costs

20% down payment$87,540
Mortgage at 6.5%$2,213
Property tax (0.57% of value)$208/mo · $2,495/yr
Insurance and upkeep (1.1%/yr)$401
Total monthly ownership$2,822

Months of leftover to save the down payment

At $2,553 left over a month, it takes about 35 months (2.9 years) to save $87,540 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.