Rent vs Buy in Canton, OH
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Buying looks favorable in Canton, OH
Price-to-rent ratio is 15.0 (under 15 favors buying, over 21 favors renting). Renting costs $978/mo; owning runs about $1,299/mo — $321/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.80% rate) | $917 |
| Property tax | $161 |
| Home insurance | $73 |
| Maintenance | $147 |
| Total to own | $1,299 |
| Average 2BR rent | $978 |
Based on a median home value of $175,908 with a $35,182 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.