Parkersburg, WV

Rent vs buy in Parkersburg

Median home $151,600. A 1 bedrooms rents for $691 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $691; per month
Own the median home: $983; P&I, tax, insurance, upkeep
Owning costs extra: $292; per month, same metro

What a purchase actually costs

20% down payment$30,320
Mortgage at 6.5%$767
Property tax (0.61% of value)$77/mo · $925/yr
Insurance and upkeep (1.1%/yr)$139
Total monthly ownership$983

Months of leftover to save the down payment

At $2,425 left over a month, it takes about 13 months (1.1 years) to save $30,320 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.