Rent vs Buy in Lewiston, ME
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Buying looks favorable in Lewiston, ME
Price-to-rent ratio is 14.7 (under 15 favors buying, over 21 favors renting). Renting costs $1,677/mo; owning runs about $2,183/mo — $506/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.80% rate) | $1,543 |
| Property tax | $271 |
| Home insurance | $123 |
| Maintenance | $246 |
| Total to own | $2,183 |
| Average 2BR rent | $1,677 |
Based on a median home value of $295,775 with a $59,155 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.