Rent vs Buy in Augusta, GA
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Buying looks favorable in Augusta, GA
Price-to-rent ratio is 13.4 (under 15 favors buying, over 21 favors renting). Renting costs $1,175/mo; owning runs about $1,395/mo — $220/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.80% rate) | $986 |
| Property tax | $173 |
| Home insurance | $79 |
| Maintenance | $158 |
| Total to own | $1,395 |
| Average 2BR rent | $1,175 |
Based on a median home value of $189,027 with a $37,805 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.