Sacramento, CA

Rent vs buy in Sacramento

Median home $559,000. A 1 bedrooms rents for $1,677 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $1,677; per month
Own the median home: $3,684; P&I, tax, insurance, upkeep
Owning costs extra: $2,007; per month, same metro

What a purchase actually costs

20% down payment$111,800
Mortgage at 6.5%$2,827
Property tax (0.74% of value)$345/mo · $4,137/yr
Insurance and upkeep (1.1%/yr)$512
Total monthly ownership$3,684

Census ACS 2023: 52.7% of renter households in this metro put 30% or more of income toward rent.

Months of leftover to save the down payment

At $2,132 left over a month, it takes about 53 months (4.4 years) to save $111,800 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.