Rent vs Buy in Columbia, SC
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Buying looks favorable in Columbia, SC
Price-to-rent ratio is 14.9 (under 15 favors buying, over 21 favors renting). Renting costs $1,298/mo; owning runs about $1,708/mo — $410/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.80% rate) | $1,207 |
| Property tax | $212 |
| Home insurance | $96 |
| Maintenance | $193 |
| Total to own | $1,708 |
| Average 2BR rent | $1,298 |
Based on a median home value of $231,363 with a $46,273 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.