San Francisco, CA

Rent vs buy in San Francisco

Median home $1,113,800. A 1 bedrooms rents for $2,609 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $2,609; per month
Own the median home: $7,321; P&I, tax, insurance, upkeep
Owning costs extra: $4,712; per month, same metro

What a purchase actually costs

20% down payment$222,760
Mortgage at 6.5%$5,632
Property tax (0.72% of value)$668/mo · $8,019/yr
Insurance and upkeep (1.1%/yr)$1,021
Total monthly ownership$7,321

Census ACS 2023: 45.3% of renter households in this metro put 30% or more of income toward rent.

Months of leftover to save the down payment

At $2,390 left over a month, it takes about 94 months (7.8 years) to save $222,760 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.