Rent vs Buy in Redding, CA
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Rent and buy are roughly balanced in Redding, CA
Price-to-rent ratio is 20.3 (under 15 favors buying, over 21 favors renting). Renting costs $1,581/mo; owning runs about $2,923/mo — $1,342/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 7.18% rate) | $2,088 |
| Property tax | $353 |
| Home insurance | $161 |
| Maintenance | $321 |
| Total to own | $2,923 |
| Average 2BR rent | $1,581 |
Based on a median home value of $385,253 with a $77,051 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.