Victoria, TX

Rent vs buy in Victoria

Median home $196,500. A 1 bedrooms rents for $954 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $954; per month
Own the median home: $1,410; P&I, tax, insurance, upkeep
Owning costs extra: $456; per month, same metro

What a purchase actually costs

20% down payment$39,300
Mortgage at 6.5%$994
Property tax (1.44% of value)$236/mo · $2,830/yr
Insurance and upkeep (1.1%/yr)$180
Total monthly ownership$1,410

Months of leftover to save the down payment

At $2,680 left over a month, it takes about 15 months (1.3 years) to save $39,300 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.