Rent vs Buy in Austin, TX
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Renting looks favorable in Austin, TX
Price-to-rent ratio is 21.8 (under 15 favors buying, over 21 favors renting). Renting costs $1,949/mo; owning runs about $3,770/mo — $1,821/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.80% rate) | $2,664 |
| Property tax | $468 |
| Home insurance | $213 |
| Maintenance | $426 |
| Total to own | $3,770 |
| Average 2BR rent | $1,949 |
Based on a median home value of $510,722 with a $102,144 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.