Slidell, LA

Rent vs buy in Slidell

Median home $272,200. A 1 bedrooms rents for $1,236 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $1,236; per month
Own the median home: $1,794; P&I, tax, insurance, upkeep
Owning costs extra: $558; per month, same metro

What a purchase actually costs

20% down payment$54,440
Mortgage at 6.5%$1,376
Property tax (0.74% of value)$168/mo · $2,014/yr
Insurance and upkeep (1.1%/yr)$250
Total monthly ownership$1,794

Months of leftover to save the down payment

At $2,830 left over a month, it takes about 20 months (1.7 years) to save $54,440 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.