San Diego, CA

Rent vs buy in San Diego

Median home $791,600. A 1 bedrooms rents for $2,291 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $2,291; per month
Own the median home: $5,170; P&I, tax, insurance, upkeep
Owning costs extra: $2,879; per month, same metro

What a purchase actually costs

20% down payment$158,320
Mortgage at 6.5%$4,003
Property tax (0.67% of value)$442/mo · $5,304/yr
Insurance and upkeep (1.1%/yr)$726
Total monthly ownership$5,170

Census ACS 2023: 55% of renter households in this metro put 30% or more of income toward rent.

Months of leftover to save the down payment

At $1,594 left over a month, it takes about 100 months (8.3 years) to save $158,320 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.