Rent vs Buy in Santa Cruz, CA
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Renting looks favorable in Santa Cruz, CA
Price-to-rent ratio is 26.2 (under 15 favors buying, over 21 favors renting). Renting costs $4,254/mo; owning runs about $10,155/mo — $5,901/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 7.18% rate) | $7,255 |
| Property tax | $1,227 |
| Home insurance | $558 |
| Maintenance | $1,116 |
| Total to own | $10,155 |
| Average 2BR rent | $4,254 |
Based on a median home value of $1,338,649 with a $267,730 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.