Orlando, FL

Rent vs buy in Orlando

Median home $338,500. A 1 bedrooms rents for $1,502 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $1,502; per month
Own the median home: $2,290; P&I, tax, insurance, upkeep
Owning costs extra: $788; per month, same metro

What a purchase actually costs

20% down payment$67,700
Mortgage at 6.5%$1,712
Property tax (0.95% of value)$268/mo · $3,216/yr
Insurance and upkeep (1.1%/yr)$310
Total monthly ownership$2,290

Census ACS 2023: 55.8% of renter households in this metro put 30% or more of income toward rent.

Months of leftover to save the down payment

At $2,179 left over a month, it takes about 32 months (2.7 years) to save $67,700 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.