Rent vs Buy in Dover, DE
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Rent and buy are roughly balanced in Dover, DE
Price-to-rent ratio is 19.2 (under 15 favors buying, over 21 favors renting). Renting costs $1,492/mo; owning runs about $2,532/mo — $1,040/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.80% rate) | $1,789 |
| Property tax | $314 |
| Home insurance | $143 |
| Maintenance | $286 |
| Total to own | $2,532 |
| Average 2BR rent | $1,492 |
Based on a median home value of $342,946 with a $68,589 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.