Rent vs Buy in El Centro, CA
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Renting looks favorable in El Centro, CA
Price-to-rent ratio is 23.6 (under 15 favors buying, over 21 favors renting). Renting costs $1,371/mo; owning runs about $2,864/mo — $1,493/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.80% rate) | $2,023 |
| Property tax | $356 |
| Home insurance | $162 |
| Maintenance | $323 |
| Total to own | $2,864 |
| Average 2BR rent | $1,371 |
Based on a median home value of $387,954 with a $77,591 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.