Rent vs Buy in Lawton, OK
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Buying looks favorable in Lawton, OK
Price-to-rent ratio is 12.4 (under 15 favors buying, over 21 favors renting). Renting costs $974/mo; owning runs about $1,098/mo — $124/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 7.18% rate) | $784 |
| Property tax | $133 |
| Home insurance | $60 |
| Maintenance | $121 |
| Total to own | $1,098 |
| Average 2BR rent | $974 |
Based on a median home value of $144,725 with a $28,945 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.