Rent vs Buy in New Bedford, MA
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Renting looks favorable in New Bedford, MA
Price-to-rent ratio is 21.9 (under 15 favors buying, over 21 favors renting). Renting costs $1,668/mo; owning runs about $3,241/mo — $1,573/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.80% rate) | $2,290 |
| Property tax | $403 |
| Home insurance | $183 |
| Maintenance | $366 |
| Total to own | $3,241 |
| Average 2BR rent | $1,668 |
Based on a median home value of $439,098 with a $87,820 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.