Buyers Resources

The Cost of Renting

There are many reasons why people rent and do not buy their own home. The most common reasons:

  1. People Desire flexibility
  2. Are unfamiliar with the area
  3. Think they do not qualify to purchase a home
  4. They know that they don't qualify for a loan and want time to repair their credit

We have provided the following information to put the cost of renting in perspective. If at some point in time you choose to purchase a home, please contact us and we can help you through the home-buying process and more!

Monthly rent 1st year 2nd year 3rd year 4th year 5th year
$550.00 $6,600.00 $13,200.00 $19,800.00 $26,400.00 $33,000.00
$600.00 $7,200.00 $14,400.00 $21,600.00 $28,800.00 $36,000.00
$650.00 $7,800.00 $15,600.00 $23,400.00 $31,200.00 $39,000.00
$700.00 $8,400.00 $16,800.00 $25,200.00 $33,600.00 $42,000.00
$750.00 $9,000.00 $18,000.00 $27,000.00 $36,000.00 $45,000.00
$800.00 $9,600.00 $19,200.00 $28,800.00 $38,400.00 $48,000.00
$900.00 $10,800.00 $21,600.00 $32,400.00 $43,200.00 $54,000.00
$1,000.00 $12,000.00 $24,000.00 $36,000.00 $48,000.00 $60,000.00
$1,200.00 $14,400.00 $28,800.00 $43,200.00 $57,600.00 $72,000.00
$1,500.00 $18,000.00 $36,000.00 $54,000.00 $60,000.00 $75,000.00
Mortgage Meltdown Infographic