Rent vs Buy in Abilene, TX
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Rent and buy are roughly balanced in Abilene, TX
Price-to-rent ratio is 15.1 (under 15 favors buying, over 21 favors renting). Renting costs $1,207/mo; owning runs about $1,617/mo — $410/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.80% rate) | $1,142 |
| Property tax | $201 |
| Home insurance | $91 |
| Maintenance | $183 |
| Total to own | $1,617 |
| Average 2BR rent | $1,207 |
Based on a median home value of $219,057 with a $43,811 down payment. Owning also builds equity over time, which a monthly comparison doesn't capture. Estimates use national averages for taxes, insurance and maintenance — your actual costs will vary.