Rent vs Buy in Staunton, VA
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Renting looks favorable in Staunton, VA
Price-to-rent ratio is 21.9 (under 15 favors buying, over 21 favors renting). Renting costs $1,199/mo; owning runs about $2,392/mo — $1,193/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 7.18% rate) | $1,709 |
| Property tax | $289 |
| Home insurance | $131 |
| Maintenance | $263 |
| Total to own | $2,392 |
| Average 2BR rent | $1,199 |
Based on a median home value of $315,339 with a $63,068 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.