Twin Falls, ID

Rent vs buy in Twin Falls

Median home $284,200. A 1 bedrooms rents for $1,168 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $1,168; per month
Own the median home: $1,854; P&I, tax, insurance, upkeep
Owning costs extra: $686; per month, same metro

What a purchase actually costs

20% down payment$56,840
Mortgage at 6.5%$1,437
Property tax (0.66% of value)$156/mo · $1,876/yr
Insurance and upkeep (1.1%/yr)$261
Total monthly ownership$1,854

Months of leftover to save the down payment

At $1,831 left over a month, it takes about 32 months (2.7 years) to save $56,840 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.