Sebring, FL

Rent vs buy in Sebring

Median home $177,900. A 1 bedrooms rents for $1,021 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $1,021; per month
Own the median home: $1,171; P&I, tax, insurance, upkeep
Owning costs extra: $150; per month, same metro

What a purchase actually costs

20% down payment$35,580
Mortgage at 6.5%$900
Property tax (0.73% of value)$108/mo · $1,299/yr
Insurance and upkeep (1.1%/yr)$163
Total monthly ownership$1,171

Months of leftover to save the down payment

At $2,278 left over a month, it takes about 16 months (1.3 years) to save $35,580 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.