Oxnard, CA

Rent vs buy in Oxnard

Median home $768,400. A 1 bedrooms rents for $2,275 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $2,275; per month
Own the median home: $5,032; P&I, tax, insurance, upkeep
Owning costs extra: $2,757; per month, same metro

What a purchase actually costs

20% down payment$153,680
Mortgage at 6.5%$3,885
Property tax (0.69% of value)$442/mo · $5,302/yr
Insurance and upkeep (1.1%/yr)$704
Total monthly ownership$5,032

Months of leftover to save the down payment

At $1,311 left over a month, it takes about 118 months (9.8 years) to save $153,680 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.