Uprootmap

Terre Haute, IN

Rent vs buy in Terre Haute

Median home $132,000. A 1 bedrooms rents for $796 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms
$796
per month
Own the median home
$872
P&I, tax, insurance, upkeep
Owning costs extra
$76
per month, same metro

What a purchase actually costs

  • 20% down payment$26,400
  • Mortgage at 6.5%$667
  • Property tax (0.76% of value)$84/mo · $1,003/yr
  • Insurance and upkeep (1.1%/yr)$121
  • Total monthly ownership$872

Months of leftover to save the down payment

At $2,177 left over a month, it takes about 13 months (1.1 years) to save $26,400 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.