Yakima, WA

Rent vs buy in Yakima

Median home $281,100. A 1 bedrooms rents for $1,027 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $1,027; per month
Own the median home: $1,871; P&I, tax, insurance, upkeep
Owning costs extra: $844; per month, same metro

What a purchase actually costs

20% down payment$56,220
Mortgage at 6.5%$1,421
Property tax (0.82% of value)$192/mo · $2,305/yr
Insurance and upkeep (1.1%/yr)$258
Total monthly ownership$1,871

Months of leftover to save the down payment

At $2,076 left over a month, it takes about 28 months (2.3 years) to save $56,220 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.