Rent vs Buy in Enid, OK
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Buying looks favorable in Enid, OK
Price-to-rent ratio is 11.8 (under 15 favors buying, over 21 favors renting). Renting costs $980/mo; owning runs about $1,025/mo — $45/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.80% rate) | $724 |
| Property tax | $127 |
| Home insurance | $58 |
| Maintenance | $116 |
| Total to own | $1,025 |
| Average 2BR rent | $980 |
Based on a median home value of $138,796 with a $27,759 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.