Pinehurst, NC

Rent vs buy in Pinehurst

Median home $315,300. A 1 bedrooms rents for $1,295 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $1,295; per month
Own the median home: $2,033; P&I, tax, insurance, upkeep
Owning costs extra: $738; per month, same metro

What a purchase actually costs

20% down payment$63,060
Mortgage at 6.5%$1,594
Property tax (0.57% of value)$150/mo · $1,797/yr
Insurance and upkeep (1.1%/yr)$289
Total monthly ownership$2,033

Months of leftover to save the down payment

At $2,459 left over a month, it takes about 26 months (2.2 years) to save $63,060 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.